XBTUSD BitMEX Chart Analysis December 17th

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it’s BitcoinGuide.

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I will begin XBTUSD BitMEX Chart Analysis for December 17th






This is 30m candle chart for yesterday.

It was long -> short movement.

If you look at the left point, the price suddenly fell before the entry timing.
And it was a variable.

If the price dropped to $7,035 once again, then the wave could have a power to possibly rise until the top of weekend CME gap.

With lack of power, price dropped from the finger pointer at the right side.

(I’ve mentioned several times about entering short position, and I believe you must have made profit this time)

So congratulations for those who made profits.






This is monthly candle chart.

Unfortunately, we have reached the point where I hoped I wouldn’t see.

Please refer to the point.

I brought a strategy based on this factor.






Today’s strategy.
It is long position strategy, and we have 30m candle chart.

I will briefly summarize.

1. Please refer to route A & B with long position entry timing and price points.

2. In case of route A, please check if the price goes down below the entry point / If it does, please refer to route B. If you make it to enter long position, please check whether the price reaches green parallel resistance line and finally “smile face” line.

If the price does not make it to the resistance line, please refer to the blue arrows for your additional switching points.

3. When the price follows route B, please check long position entry timing and price points.
If the price goes down below $6,760, please call it a day with no position.
(I’ve made this point a long position because we have a strong possibility for a strong rebound)

Please look at the red finger pointer. If the price does not lose its power and supports well for this level, it would go straight up to the route A.

This is it for today.

Today is Tuesday when we frequently see a twist.

However, due to the fact that the price strongly dropped just like last week, we need some time to wait for a rebound until the weekly CME Gap point.

So, please consider there is pretty much chance of just drifting sideways. Hope you cope well with it.

I will come back to you with FX margin trading in the afternoon.

Thank you.




(Translation Help
Jae Ho shin)