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I will begin BTCUSD Bybit Bitcoin Chart Analysis for August 16 th .
This is the movement after writing the analysis on the 13th.
Along the orange parallel line,
Long position $4422 profit section
After breaking through the orange parallel line resistance
A Gap has been reached.
( market closing price)
4 hour chart.
As you can see, in the 4 hour, 6 hour, and 12 hour charts
All Golden Cross is waiting
Today's approximate Top/Bottom price has been displayed.
Based on the purple parallel support line
made a red upside / light blue downside trading strategy.
This is a 30 minute chart long position strategy.
purple parallel line vertical rise.
Orange parallel line sideway move.
Strong and strong correction sideways are a strategy that ignores the strategy.
* When the red arrow moves
long position strategy
$48160.5 Long position entry section / Stop loss price when the purple support line is broken
(In the case of vertical ascent, you can continue to ascend without giving an entry position.)
The final target is the top price of 50945.5 dollars.
When this section is reached, except for the main peak chart
All uptrends are complete, dead cross can be ignored
I think you can keep the Up trend going.
* When the light blue finger moves
Short -> Long Switching Strategy
Does it matter if it breaks the purple support level?
If it succeeds in rebounding from $45842.5
Orange parallel line to the right sideways finish
In case of further decline, the final bottom is $45039 long position switching / Stop-loss price when the red support line is broken
If you only look at the outline today, you can see the red arrow moving route.
Depending on the timing of the long position
Bitcoin + Major Altcoins Strong Rise
When the light blue finger moves
ETC alt circulation pumping -> I think it will be about a major altcoin
Today, I will wrap up the analysis without further comments.
Have a nice holiday everyone