HOME> market conditions> [BTC market analysis] Break the cross-shareholding up!From here, the market price to buy!Thorough explanation of bargain buy / return sale chart patterns! [2020/10 / 5-10 / 11]
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[BTC market analysis] Break the cross-shareholding up!From here, the market price to buy!Thorough explanation of bargain buy / return sale chart patterns! [2020/10 / 5-10 / 11]

Today's BTC price forecast is released! Coingirls official traders open their strategies to keep up with the upcoming virtual currency trends!

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Last week's Bitcoin quote review

We will analyze and review the market price of BTC/USD from June 10st to June 5th.

Last week's highlights

Looking back over the past week, the points I would like to pay attention to areAn uptrend occurred after breaking through the triangular cross-shareholdingThat's the point.

The above image is an hourly chart of BTC USD.

Until about October 10th, the middle of the week, there was no sense of direction in the cross-shareholding, but after breaking out of the cross-shareholding on October 8, a strong upward trend occurred.

For technical cross-shareholdings,Last week's articleIt is explained in, so please refer to it.

In the article on October 10th (Friday), I wrote, "I'm aiming for a cross-shareholding registration support conversion, and I'll try to make it longer when I get back to $ 9." No entry occurred.

In addition, the sell positions from $ 11150 and $ 12000 closed as they rose to $ 11150.

Therefore, it is currently in a no-positive state.

Bargain buy / return sell chart pattern

Today"Chart pattern of bargain buy / return sale"I would like to introduce.

By the way, last week's article"Triangular cross-shareholding"Is explained, so please refer to that as well.

The basis of entry is bargain purchase / return sale

First of all, as I mentioned in the daily market commentary article,The basis of entry is bargain purchase / return sale when a trend occurs.

The essence of the market is trend following, so if a trend occurs, you can win by riding the trend.

In particular, beginners tend to trade contrarian, but contrarian is very difficult and the winning percentage drops, soBe sure to thoroughly follow trends (buy and sell back).

By the way, there are roughly eight patterns of bargain buying and return selling introduced this time.

I think that it is better to show it with an image than to explain it in sentences, so I will show you the image immediately.

Eight chart patterns for bargain buying and return selling

The image above is 8 chart patterns.

From the upper left, double tops, head and shoulders, flags, etc. are written, but first of all, rather than understanding in wordsTry to remember the pattern in this image with your head.

The entry point isPink circle.

And all the images this timeReturn selling pattern during the downtrend.

I think you can understand the bargain buying pattern by imagining the reverse of this image.

Specific explanations such as double tops, head and shoulders, and flags have been explained in past articles, so please go back and check the articles so far.

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Outlook this week

I will explain the market outlook for this week.

First, please see the 4-hour bar below.

The $ 11150 has repeatedly changed its support and has broken above that line.

The possible scenarios here areScenario where $ 11150 will switch support again.

The above image is one hour.

We can draw an ascending channel, and it is about to reach the upper limit.

The cross-shareholding is above, and the $ 11150 key line is also above.Basically, I want to aim for buying.

The first point you can think of isBargain purchase on the $ 11150 lineIs not it.

However, since it is the basis only for the line, it is not possible to make such a strong entry.

It may show a deep squeeze, so it seems necessary to take a deeper loss cut width when making a long entry.

If a little clearer technical comes out, the grounds for long will be strengthened.

This is the end of this week's market price analysis and review.


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[Women's association member who wrote this article]

Coingirls Certified Trader
Coingirls official female trader with 6 years of trader experience. I like watching the three major currency charts of BTC, XRP and ETH.
Read other articles by Coingirls Certified Traders

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