March 7 BTCUSD Bybit Chart Analysis
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I will begin BTCUSD Bybit Bitcoin Chart Analysis for March 7.
This is the movement after the analysis was written on March 4th.
More details are in the comments.
hold up well
BB 1 hour, 2 touches on the center line, then a downward wave
Finished off with a sky blue support line.
Near the final bottom, break out to the sky blue support line
There was no separate entry point.
Because I was personally maintaining a long position.
I have processed a stop loss / The strategy has been canceled
Existing BB 1 hour center + 4 hour support -> 4 hour support + 6 hour center
I was pushed as the pattern was broken in succession.
I've finally reached the danger zone.
While rebounding and falling in strange places
The long-position strategy was carried out as a psychological warfare.
It's a strategy failure.
Recently, it has been heavily influenced by the Nasdaq.
Regardless of the Bitcoin chart movement
It is connected to the main section.
I tried to ignore the Nasdaq move, but
Globally, it is true that it is affected.
It won't be the same movement over and over again.
Because it's important to keep up with the flow until you calm down
For the time being, we plan to focus on the Nasdaq movement.
I marked the gap between the pink gaps at the top.
Let's look at it as a whole.
4 hour chart
Today's approximate Top and Bottom prices are displayed.
Look at the black finger at the bottom.
I waited for you in the last suspicious rebound
Dark blue support line -> Pink support line is the bottom section
Based on the gap return section at the top
It's important to know what kind of movement you make.
Red up/light blue down movement path check
I made today's trading strategy.
This is a 30-minute chart one-way neutral strategy.
As explained above, I made a strategy centered on the Nasdaq.
To be precise, it is a long -> short switching strategy.
It is a strategy for Gap retracement common to Bitcoin and Nasdaq,
Lately, the Bitcoin time zone hasn't been right, either.
It seems to have been heavily influenced by the Nasdaq.
For the time being, let's proceed with the strategy while looking at the Nasdaq movement.
(In the rebound on the 28th, Bitcoin
Because it was good luck, a stronger rebound than the Nasdaq / Today is a dangerous section
There is not a high chance of a strong shot like last time)
* When the red arrow moves
Short -> Long -> Short -> Long Switching Strategy
Today at $38454 for the first short section
If the down wave is not connected and breaks through the red resistance line,
The biggest risk factor for long positions disappears.
1) $37990.5 long position entry section / Stop loss price when the purple support line is broken
2) $39,280 long position target and / short position operation section
3) $37907.5 long position switching section / Stop loss when the purple support line is broken
In case of long position or spot exchange operation
I recommend short-term trading with major altcoins just like Bitcoin.
For the time being, compared to the Nasdaq movement following today's retracement,
It is advantageous to operate
Don't forget to buy in principle / stop loss is essential
Thanks for reading
