"Jack's Trading Classroom: BTCUSD Bitcoin Daily Chart Trend Analysis"

Original Jack's trading classroom "BTCUSD Bitcoin Daily Chart Analysis"

Original Jack's Trading Classroom "BTCUSD Bitcoin Daily Chart Trend Analysis"

After the previous market harmonic pattern stop loss, the upper resistance breakthrough continues to follow the trend we mentioned in the live broadcast, mainly focusing on long positions after the resistance breakthrough. Currently, we see the Bitcoin daily chart, with the EMA exponential moving average showing a bullish arrangement diverging upwards on the chart. We can determine that after the triangle convergence breakthrough, Bitcoin chooses a unilateral bullish trend. The next resistance level to watch at the moment is at 11362.0. If it breaks through, it can be seen up to the next resistance level at 11746.0.

To reach the high point near 20,000 points formed by Bitcoin at the end of 2017, it still needs to cross the high point resistance formed in June last year at 13916.0. For future trends, we can try to enter long contracts or spot positions at the resistance breakthrough or support rebound.

Being cautious in choosing to go short in this market is particularly important to avoid counter-trend operations. Remember to avoid using high leverage between swings, and it is more reasonable to use high leverage when the support resistance rebounds breakthrough.

Upper resistance levels
R1 11362.0
R2 11746.0

Lower support levels
S1 10315.0
S2 9419.0
S3 8862.0
S4 8089.0
S5 7285.0
S6 5318.0

In recent days, the digital currency market has experienced larger fluctuations. It is recommended that operators strictly implement risk control and avoid high leverage and high contract volume operations to prevent additional losses caused by volatile market conditions. The article is a personal opinion, please read with caution, virtual currency trading may bring risks to your capital.

WeChat Public Account: Jack's Trading Classroom
Personal Website: jackbtc.io