Bitcoin Bybit chart analysis May 7Hello
It's a Bitcoinguide.
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Bitcoin 30-minute chart.
There is no Nasdaq indicator announcement.
This is a position with a very high possibility of sideways movement.
According to today's movement, it looks like the upper and lower sides are divided again.
Overall, we created a safe strategy.
*Red finger movement path
Long position strategy
1. $62916.5 long position entry zone / stop loss when breaking out of the green support line
2. $66,407 long position primary target -> Top secondary target
The pattern is maintained without being broken.
With MACD deadcross on the 6-hour chart,
The signal is a bit twisted.
While it is moving sideways, it is important to know where it will move depending on the Nasdaq movement.
The best move for a long position is
While maintaining the purple support line
It would be best if there was a rebound
When touching the green support line,
Because it reaches the dangerous section 4+6
It must break through the orange resistance line.
Number 1 at the top is an upward lateral movement.
I think number 2 at the bottom will be a sideways downward trend.
Within the green parallel line
If there is movement, you can view it as a extreme sideways market.
If BIT continues to succeed in rebounding with Nasdaq
Altcoins can also continue to rise from lows.
Please refer to it
Please keep in mind that my analysis up to this point is merely for reference.
Please operate safely with principled trading and stop loss required.
thank you