Bitcoin Bybit chart analysis August 5Hello
It's a Bitcoinguide.
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This is a 30-minute Bitcoin chart.
The analysis took a long time because it is a place to test whether the current position is a meaningful section or not.
Because the difficulty level increases a lot,
Beginners must be careful.
Continue to pay attention to the Nasdaq variable,
and when Nasdaq falls, it couples with Bitcoin.
In the case of Tether Dominance,
it touched the center line of the Bollinger Band monthly chart.
In fact, other than looking at the entry timing or pattern,
it is greatly affected by the Nasdaq movement,
so it is not very important.
There is no place to eat Bitcoin as a short,
but
there is no reason to raise it strongly today,
and I am watching Nasdaq.
I created a strategy based on the sideways market.
*When the blue finger moves,
it is a two-way neutral strategy.
It is a short->long or long waiting strategy.
1. $52,756 short position entry section / stop loss price when pink resistance line is broken
2. $49,293 long position switching / stop loss price when green support line is broken
3. $54,093 1st -> 1st section 2nd target -> short switching when top is reached
The final short position will probably be autonomous trading depending on the situation.
The movement of Tether dominance is important,
While touching the center line of the Bollinger band monthly chart,
It is important whether the adjustment will continue immediately or whether the sweep will be connected.
The pattern is alive and the uptrend is strong.
It may fall from the current position immediately,
or after shorting, the 2nd section at the bottom may become a double bottom section (Tether dominance sweep condition),
and if it rebounds in the 2nd section,
it may shoot strongly upward, so it is dangerous,
but it is a good position for profit and loss ratio.
Short->long or 2nd is the final long waiting strategy, and
when the 2nd section is reached,
it seems more advantageous to modify the long position stop loss price than to switch short.
Please note that today's bottom
may be pushed up to the 3rd section depending on the situation.
Up to this point, I ask that you simply use my analysis for reference and use only.
I hope that you operate safely with principle trading and stop loss price.
Thank you.
