Bitcoin Price Analysis: Bybit Chart Reveals Key Insights for June 10

If you're looking for a comprehensive Bitcoin analysis and trading guide, you're in the right place. By following this "follower," you'll receive real-time notifications on travel routes and key market segments. If you find my insights valuable, show your support by hitting the booster button below. Analyzing the 30-minute Bitcoin chart, today's Nasdaq index release is not a factor. Currently, Bitcoin seems to be moving sideways after touching the support/resistance line on the 3-hour chart. Keep an eye on this week's CPI and US interest rate announcements as they are expected to have a significant impact. Considering Nasdaq's rising protection and tether dominance, we are focusing on the 1+4 rebound area. Our strategy involves a two-way neutral approach with short to long switching tactics. Entry points include a short position at $69,710.5 with a stop loss if the orange resistance line is breached, and a long position switch at $69,328.5 with a stop loss at the green support line break. The primary target for the long position is $70,461.5, with further upside potential. However, the cost-effectiveness of short to long switching may not be optimal, so a strategy based on intermediate waves is recommended. Stay vigilant for a potential bottom push if a strong adjustment occurs at $69.7K. For traders entering a long position, breaking below the green support line can pose risks. Always set stop losses and monitor price movements closely. Once the first target is achieved, a breakout above the orange resistance line could signal a bullish trend continuation. Expect possible sideways movement with potential Nasdaq influences. Prioritize safety by implementing stop loss measures and maintaining a principled trading approach. Stay alert and trade responsibly.

Trade closed manually: Hello, this is a Bitcoin guide. I will analyze the movement on June 10th. On the NASDAQ 30-minute chart, key sections are identified with black markers. Following a long->short switching strategy, a long entry at 18984.6 led to an upward rebound that failed to surpass the purple support line. With the upcoming CPI and FOMC collaboration, sideways movement is anticipated. Yesterday's Bollinger Band touched upwards due to market activity, while the 6-hour chart's MACD signals a deadcross. Further details will be discussed in the analysis article. Examining the Bitcoin 30-minute chart, major sections are highlighted with black markers. Utilizing a short->long switching strategy, a sequence of positions at varying levels like 69.3K and 69.7K were observed. The strategy evolved into long->short->long due to breaking the green support line. Manual liquidation was conducted based on the strategy. Additionally, the 4-hour chart with a MACD deadcross indicates a shift in market sentiment. Key aspects of yesterday's strategy include the Tether Dominance 4-hour chart and the Bollinger Band indicating short positions at the center line. The charts' positive luck thinning led to a downward trend. While NASDAQ remains stable, Bitcoin and Tether pose ongoing challenges. Medium-term patterns show a downward trend post-weekend, with focus on the impact of CPI and FOMC events. Nasdaq's struggle near previous highs is mirrored in the frustration of market participants. Despite challenges, let's persevere together. More insights will be shared in today's analysis article. Thank you.

Trade update: I have shared the trade details above, and it pertains to yesterday's market activity. The short entry point for the light blue finger is at $69,710.5, which is considered a strong position for shorting. The true blue support line is currently hovering around $67,667, with the next support level at $66,981. This range is crucial for potential recovery within a 12+ day period. Caution is advised due to the prevailing downward trend, as the upcoming pattern could pose risks. For beginners or those solely using spot exchanges, it is advisable to wait until after Thursday morning or the conclusion of the CPI or FOMC events on Wednesday before taking any action. Further analysis will be conducted promptly. Let's proceed with the trade.