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I will begin BTCUSD Bybit Bitcoin Chart Analysis for August 4 th .
August 3rd analysis.
Sky blue finger movement path progress
37598.5 long position switching
The maximum profit is $1118.
without breaking the green support line,
The blue resistance line has been breached.
sideway move finish.
4 hour chart.
Today's main point is,
Day Candle Chart Dead Cross.
Approximate top price / bottom price is displayed.
Based on the orange support line
Red up trend / light blue down trend movement path check
Created today's trading strategy.
This is a 30-minute chart short position strategy.
As you can see today
I Concentrate on the blue fingers.
Final long position switching
Since it is a rebound after a decline, I think it would be good to view it as a short position.
Ignoring the sideway move
I wrote an analysis with an emphasis on rising and falling trends.
In the bottom section, price correction was carried out in detail.
* When the red arrow moves
long position strategy
38512.5 USD long position / Stop loss when the purple support line is broken
The final target will be the Top section.
Because it can be connected to the 4-hour chart Golden Cross
Continue the trend with a Stop Loss correction
* When the light blue finger moves
Short -> Long Switching Strategy
$38180.5 short position
/ Stop loss when breaking the red resistance line
-> For those who could not entering, $37375 short / Stop loss when the red resistance line is broken.
If , do not break through the orange support line
If support it, it's a sideway move guarantee.
(Probably, along the orange parallel line, there may be extreme sideway move guarantees)
Final bottom section $35,338 long position switching / Stop loss when breaking the red support line
After the rebound, check whether it breaks through the 37403 dollar mark marked with the right check
If you break through, you can continue the trend.
Or it is better to prepare for tomorrow's movement after liquidation
Because today's Bottom section is the major support line.
It is best if it is engraved up to the dead cross
Possibility of sideways movement / Red arrow movement path
Those who are entering a long position / operating only spot exchanges
Pay attention to the maximum deviation from the orange support line / The safe zone is from the purple support line.
In principle, stop-loss is essential for safe operation
I think I explained everything today.
I will leave a comment depending on the situation.
Thank you for reading.