BTCUSD Bybit Bitcoin Chart Analysis for January 23th

Hello,

It’s BitcoinGuide.

Happy new year and wish you all good luck.

As it is national holiday in Korea this weekend, I thought of something nice to give for you all.

And I found out 5 items for minor altcoins that would come out well.

Please refer to this for this weekend. And I will update 5 items at 8PM tonight.

I recommend you to refer to it.

Please don’t forget to “Follow” me and press “Likes”.

I will begin BTCUSD Bybit Bitcoin Chart Analysis for January 23th

This is 30m candle chart for yesterday.
It was long position strategy.

It went up without any wave pattern.

And the price went for a correction right at the red finger pointer timing.
And it went slowly downward.

Daily candle chart’s dead cross is suppressing.
So it could not go up until the CME Gap.

After the price ended up drifting sideways.

As mentioned yesterday,

I recommended you to operate minor altcoins before Bitcoin goes for a new high.
Hope you had a nice result from this.

I expected rise in Bitcoin so I entered major altcoins, and I’m stuck in long position for Bitcoin.

If it turns out bad, I just have to cut the loss and start again.

If I do well, I believe I would have additional spare time.

This is daily candle chart.

We are at about $8,600.
MACD Dead Cross is ongoing.

Please remember the price point here.

I’ve also checked out $8,343 price point.

I brought a strategy based on this.

This is 30m candle chart.

As you can see, the chart simply looks like short position.
However I brought long position strategy.

I do not set wide range of entry points, nor do I make excuses for any movement.
I have just entered another long position.

The reason for entering long position is because,
The price touched supporting lines for 1H/2H/3H/4H candle charts.

And now we are at position where the dangerous signal is made for every timeframe except daily candle chart.

Soon we will see new 4H candle for Bybit.
I will set stop loss for the bottom line for the candle now.

If we happen to cut the loss, we will just have to enter at the right next moment.

Also, if it goes down slowly, please check out minor altcoin’s movement.

I do not like the rebound for now.

I’ve checked out route A & B.
And there are lots of things to happen for a rebound today.

The red finger pointers are entry timings for short position.

And we must see a movement following route A with a set pattern.

If not, the price might fall until $8,300.

If the price goes down below this with an additional candle, it would fall slowly down.

If it does, please call it a day with no position for today.
Please operate with minor altcoins.

It seems we do not have much chance for a rebound.
But I refrain from chasing. And we have an evidence for a rebound.

So I will close the position after a rebound and concentrate on short position.

It is long -> short switching strategy.

Instead, if we see the price going above smile face line, the market will be very exciting.

If the price goes down, please cut the loss and cope with another chance at next position.

(Today we have long position strategy, and do not chase for short position)

Hope you have a nice weekend and wish you all good luck.

Thank you.



(Translation
Jae Ho Shin)

Comment:

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Thank you.