This is the Bitcoin 30-minute chart.
I have formulated a strategy based on today's Nasdaq support zones.
*Scenario following the light blue arrow path:
Short-to-long position switching / Neutral (hedged) strategy
1) Upper zone: Short position entry at $84,334 / Stop-loss if the pink resistance line is broken.
2) Switch to long position at $83,691.7 / Stop-loss if the price drops below the purple support line.
3) Top zone ($85.5K): Long position 1st target -> Subsequent targets in the order of "Good" and "Great."
- If the strategy succeeds, the $85.2K level (indicated by the light blue arrow) serves as a re-entry point for long positions.
4) If the price drops directly without touching the upper short entry zone ($84.3K):
Wait to go long at the lower "Zone 1."
- A crucial point here is:
If the candle falls below the purple support line in Zone 1,
the monthly candle's low will be breached.
This could lead to a prolonged period of sideways movement and a failure to achieve a vertical rally this month;
therefore, maintaining the low without breaking it is of utmost importance.
If the price breaks below the purple support line,
the downside is open toward the "Bottom" zone—extending down to "Zone 2."
Please trade according to your principles and always use stop-losses to ensure safety.
Thank you.
