Bitcoin Bybit chart analysis October 29 (FOMC)

3 days ago

Hello
It's a Bitcoin Guide.

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Here's a 30-minute Bitcoin chart.
Shortly, at 11 AM, there will be Nasdaq data releases.
At 3 AM, the FOMC releases data.

Unfortunately, yesterday's BTC move, which involved long and short positions, led to a strategy failure, so today's analysis will be completely public.
I ask for your support.

On the left, the purple finger connects yesterday's final long position entry point, the third section at $112,307.4.

While the interest rate cut is fundamentally positive,
I calculated the Nasdaq price fluctuations and implemented my strategy.
While there may be significant movements early in the morning,
BTC has many important elements, so I recommend reading carefully.

*Conditional Long Position Strategy: When the Red Finger Moves

1. After confirming that the purple finger touches the first section at the top,

the red finger marks the entry point for a long position at $112,851.6.

/ If the green support line is broken, set a stop loss price at $115,881.6.

1st target for a long position: $115,881.6 -> Target price at Top, Good, in that order.

If the strategy succeeds until the first target is touched, $114,969.8 is the point where the long position can be re-entered.

If the red resistance line is broken,

an uptrend could immediately resume.

If the price fails,

there's a possibility of another strong correction.

If the top section is touched before tomorrow's daily candlestick formation,

since this is the resistance line on the daily Bollinger Band chart,

a strong correction is likely,

it would be a good idea to enter a short position and then wait for a long position.

From the first section at the top to the orange resistance line,
a strong rebound is possible, so I don't recommend shorting.
If the price drops immediately without touching the first section,
then I recommend waiting for a final long position in the second section. If the green support line is broken,
then a pullback to the Gap 8 section at the bottom is highly likely.

Please note that if the green support line is broken,
then a pullback to the Gap 8 section at the bottom is highly likely.

Up to section 3 is open,
but this section is connected to the medium-term uptrend line,
so long positions should be held at all costs.

Yesterday's move also broke the first and fourth sections without any support,
breaking the medium-term pattern.

Since the 12-hour MACD dead cross isn't yet considered risky,
I proceeded as safely as possible, as the Nasdaq's movements were in line with it.

Please use my analysis to this point for reference only.

I hope you operate safely, adhering to principled trading and a stop-loss system.

Thank you.

2 days ago

Trade closed: stop reached

Hello,
It's a Bitcoin Guide.

I'll check the movement after writing the analysis on October 29th.



This is the Nasdaq 30-minute chart.
I didn't conduct a separate analysis yesterday,
but I did check the key areas based on the pattern.

In the red finger long position strategy,
it touched just before 1+4 and closed after a sharp rebound of the lower tail.

At 3:30 a.m., it moved sharply upward and downward,
ending in an extreme sideways movement.

Today, a new daily candlestick formed,
and the price is moving sideways after touching the lower Bollinger Band line and then the upper line.

It's fluctuating up and down,
but it's continuing to set new highs, and a MACD dead cross is in progress on the 6-hour chart.



This is a 30-minute Bitcoin chart.
I've marked key areas with black fingers.

On the left, I've connected the final long position entry area, section 3, with a purple finger on the 28th.

In the red finger long position strategy,
the upper section 1 was not touched, but the second long position waiting area was touched.

It broke through the green support line,
and I cut my loss.

During the early morning hours, it broke through Gap 8 to section 3,
ending a correction.

Today, a new daily candlestick formed,
and touched $108,136.7 at the bottom.

After bouncing back from the bright blue support line, it is now moving sideways.

A strong decline occurred,
without even a short entry point in section 1 at the top. The Nasdaq is moving sideways, but BTC is fluctuating significantly.

The reason I set the green support line as my stop loss was because, although there was a gap 8 section below,
the lower support line was open.
Yesterday, the target area was the 6+12 Bollinger Bands,
but it repeatedly touched the center line of the daily chart,
ending without any significant rebound.
The 12-hour chart's MACD is in a dead cross.

It's really difficult, haha.

Still, I think those who were long or holding based on the green support line were able to manage their positions in real time.

It's not decoupling from the Nasdaq,
but BTC is in a riskier zone than the Nasdaq,
so the correction is more pronounced.

The market isn't easy, but I'll try to follow the trend and follow the rules.

Thank you.

2 days ago

Note

Hello,
It's a Bitcoin Guide.

I'll check the movement after writing the analysis on October 30th.



This is a 30-minute chart for the Nasdaq.
Key sections are marked with black fingers.

In the red finger conditional long position strategy,
a sharp decline occurred at 9:30 AM without touching the purple fingers at the top.

It fell from the 1+4 section to the 4+6 section in one fell swoop.

After a correction from the 2nd (1+4 section) marked at the bottom to 25.7K (4+6 section),
a strong rebound occurred,
and it is currently moving sideways near the pink resistance line.



This is a 30-minute chart for Bitcoin.
Key sections are marked with black fingers.

In the bottom left, the final long position entry point, indicated by the purple finger in the analysis on the 29th, was $108,136.7.

Similar to the Nasdaq,

since the red finger conditional long position strategy failed to touch the first section of the purple finger at the top,

if it were to fall immediately, we would wait long at the bottom as per the strategy.

After touching the bottom section, it barely managed to reach the third section,
but successfully rebounded within the light blue support line.

It is currently rising to around $3,400.

There was a medium-term uptrend line near the light blue support line,
which held strong support.

The strategy is considered active.

I will maintain my perspective until the weekend without further analysis.

There's been a bit of a correction in the recent Bitcoin market,
and the participation rate is a mess.

It's not a very pleasant sight to see so many sloppy analysts,
who just keep predicting price increases or decreases without any minimum planning, entry points, or stop-loss levels.

Thank you for your hard work this week.

Have a nice weekend.

Thank you.