December 16th XBTUSD Chart Analysis

Hello.

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I will begin XBTUSD BitMEX Chart Analysis for December 16.

This is 30m candle chart for last Friday.

I’ve deleted unnecessary lines.

It moved along with route A with long position and then stopped.

Based on the orange converging section that I mentioned in our private member’s room, it rose about $100.

After, it could not touch the final “smile face” line, and dropped suddenly below the orange supporting line.

I’ve mentioned several times about operating short position.
For those who remembered this could have made profits for both sides.

Congratulations.

This is weekly candle chart.

The candle is made at the bottom part of Bollinger band. And the supporting line is indicating below.

Please look at the blue supporting line(daily candle’s parallel line).

If there is a rebound, please refer to the orange resistance line.

We are at position where there could be a rebound, but still in a dangerous zone.

It is time when daily candle chart’s MACD Dead Cross should come out.

So I brought a strategy based on these factors.

Today’s strategy.
It is 30m candle chart and long position trading strategy.

To summarize,

1. Please check route A & B with long position entry timing / price points

2. In case of route A, please check whether the price goes down below $7,106 with an additional candle. If it does, please refer to route B. If the price rises and touches the “smile face” line, we will be at safe zone. If it does not make it, please enter short position.

3. If it follows route B, check if the price goes down below $7,035 long position entry point. If it does, call it a day with no position.

4. In case of route B, please refer to the finger pointers. If there is not much correction, please check if the price goes up strongly. Then it would be considered route A.

This is it for today.

If you look at the middle, there is weekly CME Gap.
For you reference, please check if there will be a rebound reaching this point.

I will come back to you with FX Margin Trading Chart Analysis in the afternoon.

Thank you.



(Translation Help
Jae Ho Shin)

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