Bitcoin Price Analysis on July 23, 2023: Box Pattern Breakout Potential Identified by OREO
Sure, here's the analysis for the
BTCUSDT.P Bitcoin chart on July 23, 2023, from a professional trader's perspective:
Date: July 23, 2023
Bitcoin Analysis:
Bitcoin has been consolidating in a tight range between $30,300 and $29,400, forming a clear box pattern. As a professional trader, I'm closely monitoring the price action for potential trading opportunities.
Key Levels:
Resistance: $30,300 Support: $29,400, $29,600 Short-Term View: The recent price action around the $29,600 support level indicates a short-term bullish sentiment. If Bitcoin successfully breaks above the resistance at $29,950, we might witness a rebound towards and potentially above $30,300.
Bullish Scenario: If the price breaks and holds above $29,950, I will consider establishing a long position with targets at $30,300 and potentially higher. In this scenario, careful risk management and trailing stops will be employed to protect profits.
Bearish Scenario: On the other hand, I will be cautious of a potential short position if the price fails to break above $29,950 and instead starts to decline. A drop below the support at $29,400 could lead to further downside towards $28,200. In such a case, I will consider shorting with appropriate risk control measures.
Overall, I will stay patient and disciplined, waiting for clear confirmation of a breakout or breakdown before entering any position. As a professional trader, I understand the importance of adapting to market conditions and will trade accordingly to manage risk effectively.
Please note that trading involves risks, and this analysis is not financial advice. Always do your own research and use proper risk management strategies while making trading decisions.
액티브 트레이드
현재는 숏 포지션이 더 유리하다고 생각합니다. 트라이앵글 이탈시 추세선에 스탑로스를 설정하고 숏으로 대응할 예정 입니다.
I currently believe that short positions are more advantageous. I plan to set a stop-loss at the trendline after a triangle breakout and respond with a short position
노트
비트코인 이탈시 숏 포지션 진입 예시 Here's how you might enter a short position
매매 수동청산
15:40 모든 숏 포지션 종료 하였습니다. 이유: 하락캔들이 나온 이후에 계속 상승장악 캔들이 반복됨.
At 15:40, all short positions have been closed. Reason: After the appearance of bearish candles, there has been a consistent repetition of bullish candles indicating a continuous upward trend.
노트
다시 잡은 숏 포지션에서 수익이 발생 했습니다. 현재 29200에서 포지션 전체의 75%를 익절하고 진입가격에 스탑로스 설정했습니다.
I made a profit again on the short position I re-entered. Currently, I have taken 75% of the entire position at 29,200 to secure gains, and I've set a stop-loss at the entry price.