Bitcoin bybit chart analysis February 6

6 feb 2023

Hello

It's a Bitcoinguide.

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If my analysis is helpful,

I would like one booster button at the bottom, please.



Bitcoin 30 minute chart.

Recently, the price has continued to decline to the right without any significant fluctuations.

Upper gap (this week) / Lower gap based on 2 weeks ago
Because the current position is the major support line in the pattern

Based on Nasdaq's upward trend or extreme sideways trend

Since Bitcoin has a fast turnover rate, we carried out a long position strategy.



*In arrow movement path

One-way long position strategy

1. $22847.5 entry into long position / stop loss when breaking the green support line
-> Gap $23,406 1st target -> Top price $23636.5 Final target

The current position is a position with some power.
Because the judgment can be ambiguous in the case of sideways

The stop loss progressed leisurely to the green support line.

For normal movement,
It seems that the purple support line will not be easily broken at the current position.

My analysis is for reference only.

I hope you operate safely with principle trading / stop loss essential.


thank you.

6 feb 2023

Trade attivo

This is the movement after writing the NASDAQ analysis article.
The major sections were marked with a black finger.

It does not come down to the long position entry position at the bottom
Extreme sideways finish

As shown, the Gap retracement did not appear at the top.

4-Hour Chart Bollinger Band Middle Line Breakout in 1+4 Pattern,
The 12-hour chart MACD dead cross is in progress.



This is the movement after writing the Bitcoin analysis article.
The major sections were marked with a black finger.

Extreme sideways finish without large waves or movements
While moving sideways, the purple support line break / strategy was active.

Recently, there has been a continuous downward trend.

In terms of mood, ahead of the CPI next week on the 14th
It looks like the sideways trend will continue.

I'll check it out overall.




thank you