Possibility of further price increase
Hello guys, I am a small trader in South Korea. I want to upload my analysis and thoughts on my Bitcoin chart in English as well as studying English. I hope you understand this part because it is written through a translator.
First of all, to explain my chart analysis style, I write a long-term perspective scenario, take it as the main strategy, constantly modify the short-term chart through real-time response, and apply it to trading.
The most important points for me in chart analysis are candles, temporal perspective, counting accuracy up to high bar frames, and Rsi.
Usually, my view from a long-term perspective is high-accuracy, and the win rate from a short-term perspective is not good.
Sometimes, the long-term view of the main is wrong, and there are times when the trading is horrendous.
Lastly, I will continue to analyze my charts by revealing that I prefer trading from a swing perspective.
The current situation is this:
A downward C wave in the monthly wage is underway. (Everyone knows this.)
Currently, after the A wave of the C wave is finished, the B wave is in progress.
It is a state in which the trend resistance of the C wave to the A wave is received during the B wave.
I do not believe that Bitcoin has completely bottomed out based on this point of view. In fact, the divergence at the end of the decline is quite uncertain.
However, in the case of large-framed rods and candles, I predict an additional Bitcoin price increase.
On the trend Fibonacci, we consider an uptrend to the 1.618 point of $25500-26000, which is the 100-day resistance point of the daily moving average and also the turning point of a major decline.
We also see the possibility that Bitcoin Dominance will continue to decline further this month, and expect an alt market.
If there is a decline that undermines Bitcoin's upside support point of 21,400, we will discard this view.
Overall, I plan to swing trades in the hopes of a better upside for altcoins from $25500 to $26,000.
In the case of futures trading, after experiencing a terrible loss recently, I have lost confidence, so I am trading like this for risk management.
If Bitcoin reaches the target price, from then on, we will consider and proceed with aggressive short position entry through real-time response and perspective correction once again. Of course, I want you to take into account that you can modify your strategy based on the situation at that price point.
TP point : 25,500 USD ~ 26,000 USD
Significant price points : 23,700 USD
Point of view discard : 21,000 USD
List of altcoins that are currently being viewed positively : AXS, CELO, ALGO
First of all, to explain my chart analysis style, I write a long-term perspective scenario, take it as the main strategy, constantly modify the short-term chart through real-time response, and apply it to trading.
The most important points for me in chart analysis are candles, temporal perspective, counting accuracy up to high bar frames, and Rsi.
Usually, my view from a long-term perspective is high-accuracy, and the win rate from a short-term perspective is not good.
Sometimes, the long-term view of the main is wrong, and there are times when the trading is horrendous.
Lastly, I will continue to analyze my charts by revealing that I prefer trading from a swing perspective.
The current situation is this:
A downward C wave in the monthly wage is underway. (Everyone knows this.)
Currently, after the A wave of the C wave is finished, the B wave is in progress.
It is a state in which the trend resistance of the C wave to the A wave is received during the B wave.
I do not believe that Bitcoin has completely bottomed out based on this point of view. In fact, the divergence at the end of the decline is quite uncertain.
However, in the case of large-framed rods and candles, I predict an additional Bitcoin price increase.
On the trend Fibonacci, we consider an uptrend to the 1.618 point of $25500-26000, which is the 100-day resistance point of the daily moving average and also the turning point of a major decline.
We also see the possibility that Bitcoin Dominance will continue to decline further this month, and expect an alt market.
If there is a decline that undermines Bitcoin's upside support point of 21,400, we will discard this view.
Overall, I plan to swing trades in the hopes of a better upside for altcoins from $25500 to $26,000.
In the case of futures trading, after experiencing a terrible loss recently, I have lost confidence, so I am trading like this for risk management.
If Bitcoin reaches the target price, from then on, we will consider and proceed with aggressive short position entry through real-time response and perspective correction once again. Of course, I want you to take into account that you can modify your strategy based on the situation at that price point.
TP point : 25,500 USD ~ 26,000 USD
Significant price points : 23,700 USD
Point of view discard : 21,000 USD
List of altcoins that are currently being viewed positively : AXS, CELO, ALGO
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