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BTCUSD Bybit Chart Analysis October 16

BYBIT:BTCUSD   Bitcoin / U.S. Dollar








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I will begin BTCUSD Bybit Bitcoin Chart Analysis for October 16th .











This is a 30 minute chart created yesterday.

hile working on a new platform,
Strategy got tangled up.

Bollinger Band ,
The support line on the 4-hour chart was not displayed.

overall ,

Without break away the red support line,
Breaking through the green resistance line

Made a meaningful rebound.







6 hours chart.

Yesterday's purple section,

At the Bollinger Band

On the 6-hour chart,
It was a 1:1 ratio between the support and resistance levels.

However, while writing today's analysis
A decline occurred,

Because , I rewritten the analysis from scratch.


On a 30-minute, 1-hour chart,
Keeping the red cloud thin,
After working, Made a strong decline.


Everything,

This is due to the gap diference that occurred on the weekend.

For this part, I created a trading strategy.









This is today's trading strategy.


It's a 30-minute chart, short position strategy.
Still down to the lower section, it should fall further.


* Notice the green parallel line.

At each entry section,
I marked the red finger section.

*For each finger section,
Check the entry price on the right side of the sky blue line.


*Short -> Long position switching strategy.



When reaching the green resistance line -> trend transition
Trading strategy is a failure.

* On the right, check the weekend closing price.


The red line at the top and,
The blue support line at the bottom

It is a large convergence section.


As you get closer to this section,
The direction of next week's rise and fall will be determined.


The spot exchange,

After returning the indicated gap difference,
It is good to operate the same.


At the bottom, if the blue support line breaks, stop loss.

Today, for personal reasons,
Nasdaq analysis will take a day off.

Sorry to those who waited.



Have a good weekend.


Thank you.
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