BTC#17: How Does Bybit Affect BTC? Traders Need to Know This!
💎 💎 💎After a long time, 
BTCUSDT has not escaped the SW zone. So what is the market reflecting? Let's analyze the price reaction of BTCUSD in this area: 💎 💎 💎
1️⃣ **Notable news:**
📊 Coinbase co-founder: A settlement has been reached with the US SEC, the related lawsuit is expected to be officially approved and withdrawn next week. The dismissal of the lawsuit is said to bring many positive signals to the cryptocurrency market in general. 🚀 The security incident on Bybit caused a recent decline, recording the outflow of money from Bybit including hackers' money of 2,235 billion USD. However, liquidity during this time was still maintained stable.
📌 This incident shows the solidarity of the crypto industry community, not the fragmentation of previous attacks. It can be seen that the future potential of the industry will develop even better.
2️⃣ **Technical analysis:**
🔹 **Frame D**: The price structure is still bullish, but yesterday's closing candle completely destroyed BTC's previous attempt to increase in price. A bearish engulfing candle shows that it will take more time to accumulate to break out of this SW area or the price will have to find a better support zone to break out.
🔹 **Frame H4**: The price line is still in the SW area, however, the recent increase gives us a signal about the possibility of BTC increasing in price. Let's look at H1 to see this signal more clearly
🔹 **Frame H1**: The temporary price structure is an upward price structure. Although it cannot be immediately, this is an ideal area to wait for a position whether it is BUY or SELL
3️⃣ **Trading plan:*
⛔ The current price area tests the patience of traders. Trading in the SW price zone always erodes trading psychology due to greed and expectation. FOMO every time the price signals a break through the SW zone will erode the account and trading psychology. Wait for a clearer signal from the price reaction.
✅ As you can see the plan in the H1 frame. Waiting for a clearer price structure to establish a position is the top priority. We do not predict where the price will go but look at reality to decide what to wait for. "Trade what you see, not you think"
💪 **Wish you successful trading!**
BTCUSDT has not escaped the SW zone. So what is the market reflecting? Let's analyze the price reaction of BTCUSD in this area: 💎 💎 💎1️⃣ **Notable news:**
📊 Coinbase co-founder: A settlement has been reached with the US SEC, the related lawsuit is expected to be officially approved and withdrawn next week. The dismissal of the lawsuit is said to bring many positive signals to the cryptocurrency market in general. 🚀 The security incident on Bybit caused a recent decline, recording the outflow of money from Bybit including hackers' money of 2,235 billion USD. However, liquidity during this time was still maintained stable.
📌 This incident shows the solidarity of the crypto industry community, not the fragmentation of previous attacks. It can be seen that the future potential of the industry will develop even better.
2️⃣ **Technical analysis:**
🔹 **Frame D**: The price structure is still bullish, but yesterday's closing candle completely destroyed BTC's previous attempt to increase in price. A bearish engulfing candle shows that it will take more time to accumulate to break out of this SW area or the price will have to find a better support zone to break out.
🔹 **Frame H4**: The price line is still in the SW area, however, the recent increase gives us a signal about the possibility of BTC increasing in price. Let's look at H1 to see this signal more clearly
🔹 **Frame H1**: The temporary price structure is an upward price structure. Although it cannot be immediately, this is an ideal area to wait for a position whether it is BUY or SELL
3️⃣ **Trading plan:*
⛔ The current price area tests the patience of traders. Trading in the SW price zone always erodes trading psychology due to greed and expectation. FOMO every time the price signals a break through the SW zone will erode the account and trading psychology. Wait for a clearer signal from the price reaction.
✅ As you can see the plan in the H1 frame. Waiting for a clearer price structure to establish a position is the top priority. We do not predict where the price will go but look at reality to decide what to wait for. "Trade what you see, not you think"
💪 **Wish you successful trading!**
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Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.