Bitcoin Bybit chart analysis May 8Hello
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Bitcoin 30-minute chart.
There is no Nasdaq indicator announcement.
Long position entered yesterday,
On the left, the Purple Finger $62916.5 strategy is connected as is.
Today too, there is a high possibility of sideways movement.
This is a position that can fall significantly from the current position 4+6.
Since it is a place with many variables,
Please check the analysis carefully.
*Sky blue finger movement path
Two-way neutral
Short -> Long switching strategy
1. Short position entry zone at $63709.5 / Stop loss when the orange resistance line is broken
2. Long position switching at $62873.5 / Stop loss when the purple support line breaks away
$64,890 Top section long position 1st target -> Good 2nd target
For those who entered long positions yesterday,
You can operate with a stop loss starting from the breakout of the purple support line.
There is no place to go short yet, as there is no 5-minute trend reversal.
Please check if the 5-minute bar trend is changing.
Section 1 at the top is the short position operation section or extreme sideways protection section.
Section 2 at the bottom is at 9 PM, only until an additional 6-hour bar is created.
This is a major rebound period. (A place that can be pushed with maximum force)
Up to the orange resistance line/green support line today.
It is a right-sloping or right-down lateral long section,
If it breaks away from the green support line, it may reach the bottom.
If you touch the 1st target of today's top section
Because it is a place where broken patterns are restored.
The possibility of further rise increases.
After touching the light blue finger short entry section $63709.5
Purple support line -> It can fall significantly below the green support line.
From a long position perspective, it must absolutely break through today.
I have written in detail so far.
I don't know if it was helpful.
Please note that my analysis up to this point is merely for reference and use.
Please operate safely with principled trading and stop loss required.
thank you
