BTCUSD Bybit Chart Analysis January 2nd

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It’s BitcoinGuide.

Happy New Year.

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I will begin BTCUSD Bybit Chart Analysis for January 2nd.






For those who participated live on Tuesday might remember. So I will be brief.

If you replay the view, it moved along with route B.

We entered long position on $7,200 right at the red finger pointer.

It left tail on route B(Can be an evidence for short position).
Then it fell about $200.
Lastly, it ended up drifting sideways.

It was long -> short strategy along with route B.

Congratulations for those who made profits.

If you do the trading at the right position with a plan,
You can make short position profit on uptrend, and long position profit on downtrend.

Please remember.






This is monthly candle chart.

BTCUSD Bybit chart lacks history.
So I brought XBTUSD BitMEX chart.

New monthly candle is created a bit above the middle line.

Based on daily candle chart’s parallel line,
We need to breakout 1st trend line and 2nd resistance line in order for uptrend.

I’ve indicated the major sections so please refer to them.

I’ve mentioned about these sections several times, and I brought a strategy based on these.






Today’s strategy.

While writing, a trend came out. So, I only brought downtrend route B strategy.

It is short position strategy. But you have to well recognize the major positions.

1. Please refer to route B.
(Even though a rebound comes out, if it does not make it to the “smile face” line, the wave should be seen based on route B considering the whole price trend)

Please check the first long position entry timing with price point.
(The downtrend is strong, so operate long position shortly with tight stop-loss)

2. Please check short position entry point / Carefully watch whether the price goes above the green parallel resistance line with an additional candle
If it does, do not enter short position and wait for the last entry point.

After, if it does not make it to the smile face line, please refer to blue finger pointer with each timing

* Please refer to each parallel supporting and resistance line and price reaction at these points

* If the price goes down below green parallel supporting line, it could fall $6,800

* Please check bonus finger pointers

This is it.

Please keep in mind that the chart might end up drifting sideways.
Make sure you put stop-loss and do your trading.

Hope you have a good day.

I will come back to you with FX / Overseas chart analysis in the afternoon.

Thank you.



(Translation
Jae Ho Shin)