XBTUSD Chart Analysis for December 24th

24 dic 2019

Hello.

It’s BitCoinGuide.

Merry Christmas Eve~

Hope you have a wonderful day.

Don’t forget to “Follow” me and press “Likes”.

I will begin XBTUSD Chart Analysis for December 24th







This is 30m candle chart for yesterday.

In our room, I explained about short position.
It was based on the assumption that the price does not break out $7,711 (the top of converging section and orange trend line).

The price was drifting sideways first. Then at red finger pointer, the price made a uptrend wave once, not being able to touch $7,711 with a tall shadow.
Drastic fall came out from the blue finger pointer above.
It broke out the orange trend line and came down to $7,297.

It was about $400 movement.

In fact, we did not open long position.
We planned to open short position at first, and then finally switching into long position.

I personally opened short position with tight stop-loss.
However, the price touched stop-loss as it was too tight.

But congratulations for those who made profits.







This is daily candle chart.

The candle is created between the weekly CME Gap section.

And currently the candle is positioned at the upper part of Bollinger band.

Unless the price goes down below the middle line, the uptrend can continue.

Following the trend, it is reasonable to operate bitcoin and altcoins simultaneously at the indicated long position.

Of course, if it goes down below the entry point, it is recommended to close position.

As long as it sustains the safe zone, we are at the point where we can kill birds with one stone.

So I brought a strategy based on this.







This is 30m candle chart.

To briefly summarize,

1. Please check route A & B with A’s long position entry timing / B’s short position entry timing with each price point at the right side

2. Route A : Please check the price does not go down below the long position. If the price does not make it to the final smile face line, please switch into short position.

3. Route B : Final long position entry point is $7,117. If it goes down below with an additional candle, please call it a day with no position.

This is it for today.

Make sure you check out the blue finger pointer for route A and red finger pointer for route B where you can cope with real time situation for your position.

Hope you cope well with it.

I will come back to you in the afternoon.

Thank you.



(Translation
Jae Ho Shin)