BTCUSD Bybit Chart Analysis July 16

BYBIT:BTCUSD   Bitcoin / U.S. Dollar


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Only 30 Min chart ,
In real time, you can check major sections and move,
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I will begin BTCUSD Bybit Bitcoin Chart Analysis for July 16 th .

This is the movement after writing the analysis article.

Light blue finger movement path progress.

Purple parallel line break away -> orange support line is broken.

As the light blue finger moves,

The rebound was weak at the orange support line.
Finished after an additional short position.

It's a downward move.

4 hour chart.

Approximate top price of the day, bottom price marked it.

based on the purple support line

Check the red up/light blue down movement path.

MACD Golden Cross is waiting at the bottom.
(Double Golden Cross)

Yesterday, the day candle MACD dead cross
It went on, but it was well supported.

However, since the support line is open
When the sky blue support line is broken
The next support line is between $22728.5 and $16930.

Based on the above, I created today's trading strategy.

30 minute chart long position strategy

I ignored all sideway move today.

The pink parallel line,
This is the section for a strong rise.
(over shuting when the resistance line is broken)

The top price and bottom price have been partially changed.

Check the closing price of the futures market.
(Pink vertical line)

* When the red arrow moves

Long position strategy.

$32213 Long position entry section / Stop loss price when the pink support line is broken

The final target is the Top section

* When the light blue finger moves

Short -> short -> long switching strategy.

First sky blue finger section $31,620 short position /
Stop loss when the orange resistance line is broken

$30785 additional short / Stop loss when the orange resistance line is broken

29784 Final long position switching / Stop loss when breaking the orange support line

Principle trading / Stop loss is essential, so please operate safely.

Have a good weekend.

Thank you.
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BitCoinGuide idishim85
@idishim85, Thank you