December 9 XBTUSD BitMex chart analysis

Hello.

"Make it simple and make profit"

It’s BitcoinGuide.

Did you have a good weekend?

Last week, we saw a perfect movement from BitMex and XAUUSD charts.
I know you must have made some profits.

Today I also brought my viewpoint for “mid &long term trend” and strategies according to this.

So please press “Likes” and “Follow” me.

I will begin chart analysis for December 9th






This shows 30M chart that I left for last Friday.

First it followed route B, and seemed like it would end up with no particular movement.


But, it touched the “sad face” line twice and moved up following route A.

Just like the strategy, it ended up with the point that I indicated last week.

Afterward, the price slightly broke through parallel resistance line and then reached the position now.

Last week was long & short position strategy.
It could have been very difficult to enter both positions as the price suddenly rose and went down.

It was total $354 movement from the bottom to the top of the red box. Congratulations.






This is monthly candle chart.

For you reference, I pointed out $6,828. From now on, the price should not go down below or touch this price point. Then we might have more chances to go up.

As you look at the bottom part, MACD Dead Cross is ongoing.


To summarize, “if we do not see price below $6,800(At maximum, just one touch)”, it will be a good chance to enter long position when it comes down.

I will keep looking at the price movement for today and tomorrow.
If it supports well, I will give you information of Altcoins too this week.






This is today’s strategy.

It is 30M candle chart.

Today I would like to say we have more chances of seeing route B.

So please look at the short -> long position.

The reason is because of the MACD Dead Cross of 4H candle chart, and the CME Gap for last weekend.

I brought trading strategy based on this.

Please focus on the converging section between the green parallel resistance line and below supporting line.



1. Check out route A & B with route A’s long position entry timing / route B’s short position entry timing with each price points.

2. If it moves along with route A, please check if the price does not go below the long position entry point (If it does, it would follow route B).

3. If it follows route B, please check whether the price goes above green parallel resistance line. (If it does, please close for the day with no position).

4. If the price loses its power not being able to break through the green parallel resistance line, please enter your short position / and then long position at the blue supporting line.

This is it for today.

The purple “sad face” line is where the price would rebound.
Today it seems it would not be able to have a big movement for both positions.

So it would be more beneficial for you to close the position shortly and enter only on fixed positions.

The CME Gap is around $50.
It does not seem to have much problem, however, the important aspect is 4H candle chart’s MACD Dead Cross.

If it supports well, it will shorten the timeline for the new uptrend.


I will come back to you with FX overseas futures chart analysis in the afternoon.

Thank you.


(Translation help
Jae ho Shin)