Bitcoin(BTC), 1st on August - Swing & Mid-term Trading Possibility Study.
(1) Cryptocurrency Type
- Bitcoin
(2) Momentum
- It announce the investment plans of the major investment-company and can show the rebound from the rise or peak.
(3) Chart Analysis
- It recently broke the 15th line in July. It is the previous support point.
It showed a rebound to the upper center of the previous peak.
In addition, it has plummeted from its recent peak. It seems to be dropping in fear.
The analysis tool approaches by the Fibonacci tool. Currently, Fibonacci is below 66%.
A slight rebound is expected.
Avoid a short-term approach and approach from a swing or mid-term trading perspective.
(4) Trading Plan
- Currently, it buy divisions at the supporting point. Up to 5 divisions.
(5) Target price
- It aim at the peak of previous point or the center point of the peak of the rebound.
The target price is constantly variable.
(6) Plans for Loss-cut
- Do not loss-cut and sell it when you rebound.
** Chart and post notices
- Trading and Analysis Center : Bithumb Trading Center of Republic of Korea.
- Charts are similar for each country but prices are different. Note the advantage.
** Disclaimer: This post is a personal idea, not an investment idea. The transaction is a small transaction, so please enjoy it. It is your responsibility to invest, and you should be aware of subjective judgments and technical analysis to make investments.