BTCUSD Bybit Chart Analysis for January 14th
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I will begin BTCUSD Bybit Chart Analysis for January 14th
This is 30m candle chart for yesterday.
As the bottom line for weekly & daily candle chart was broken, the price made the supporting line for a moment.
It ended up drifting sideways following route B.
After, if you look at the orange trend line,
The price broke resistance line -> breaking parallel resistance line -> and finally breaking the mid term trend line.
Now we are at correction period.
The price went up sooner than expected.
Congratulations for those who were holding at the bottom.
Yet we still have power remaining at Bitcoin SV.
So for today, we would like to enter Bitcoin Cash & EOS at right moment.
Sometimes people ask me my perspective for mid term period.
And I confirm my viewpoint in daily basis.
This is weekly candle chart.
Just like what I explained from last week,
As the new weekly candle is created, we are at position where the price is trying to break out the middle line.
If you look at the bottom, we are waiting for MACD Golden Cross.
So I brought strategy based on this idea.
Today’s strategy.
Of course it is 30m candle chart.
It was very tricky today.
It is very hard to analyze the trend after a drastic movement came out.
I will be brief. It is called,
“Go for it”
It is long position strategy.
Please confirm long position entry timing with price point.
Today we would like to start Bitcoin Cash too.
If the price breaks out the smile face line,
The uptrend will continue.
If the price breaks out green parallel line -> daily candle chart /4H candle chart’s resistance line, there would be a strong shooting. Please refer to it.
Just like the situation, I drew the trend bigger than normal.
If the price comes down below parallel supporting line, call it a day without short position.
Please take advantage of trailing stop loss to get the maximum profit.
Hope you do well with it.
I will come back to you with FX margin trading, overseas futures analysis.
(sorry for yesterday as I had individual schedule)
Thank you.
(Translation
Jae Ho Shin)
