BTCUSD Bybit Bitcoin Chart Analysis for July 16th

16 jul 2020

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I will begin BTCUSD Bybit Bitcoin Chart Analysis for July 16th .






This chart was put together in real time yesterday.

In the triangular convergence section of the resistance line and the support line,

Breakaway the red parallel line
And In the green parallel line,

It ended with a downward trend sideway move.







This is a daily chart.


It was largely divided into three sections.

Please pay attention to the blue triangle convergence section.


In the first section, if supported
And , Until the second section, if you go down at once
It's a Trading strategy.



Best of all,
from current location
As it is, it rises to the purple "smile" section.

Worst,

after the first section,
Without reaching the second section,
It is a slowly Down Trend movement.



I focused on this part and brought a trading strategy.








Today's trading strategy.


30-minute chart, long position strategy.

If summarize only the main sections,


"Check first triangle convergence section of green resistance line / red support line.
(If you break through the green resistance line, long position trading strategy will be invalidated.)

*Check if it break through the green resistance line on the red path.
Break through, in blue finger section, short position stop.

*If you touch the orange line,
You have to be prepared for down trend.


* In case of strong departure due to vertical decline
Check the danger section at the bottom,
At the bottom of the final, purple section
Please focus.



Thank you.

16 jul 2020

Nota