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I will begin BTCUSD Bybit Bitcoin Chart Analysis for August 3 th .
August 2nd analysis.
It proceeded according to the arrow movement path, but
Choose the bottom, not the top.
The extreme sidewaymove was finished.
Breaking the pink resistance line -> After breaking the orange resistance line
Within the convergence zone of the sky blue resistance line / green support line It's finished.
4 hour chart.
Today's approximate Top and Bottom prices are displayed.
Within the light blue resistance/green support triangular convergence period.
direction is determined.
red top / sky blue bottom
I made today's trading strategy.
30 minute chart neutral strategy.
* When the red arrow moves
long position strategy
candle have to keep moving upwards to the right without any adjustment.
$39801 Long Position Strategy / 30 minutes Stop Loss when the additional bar breaks off the support line
The final target is the $ 41,240 top section.
After that, need to continue touching the dark blue resistance line.
No further downtrend.
* When the light blue finger moves
This is a short -> long switching strategy.
Ignore the initial rebound and look at the flow or pattern
Focus on short positions.
After the suspicious sideways trade, I put my weight on the decline.
$39368 short position entry section / Stop loss when the purple resistance line is broken
(Extreme sidewaymove may occur if the purple resistance line is broken)
Thereafter, a weak rebound or $38949.5 short position entry section / Stop loss when breaking through the sky blue resistance line
(Those who are entering short can keep holding as long as they do not break the sky blue resistance line)
Final $37598.5 Long Position Switching
There may be a rebound from the red support line.
The position I expect is support after touching the support line for 6 hours.
Please note that it can be dangerous if you are pushed back or rebound is weak.
If the rebound is successful, the spot marked with Check in the upper right corner
Check to see if it breaks through the purple resistance line.
If it breaks, you can carry on with the trend.
If it fails, we recommend that you operate it tomorrow after liquidation.
depending on the situation,
Afternoon comments are in progress or
It may not proceed.
Principle trading / stop loss required.
Thanks for reading.
Blue Finger choice
$ 1118 Profit