"Jack's Trading Classroom" - Entry conditions for spot BTCUSD on daily chart

Original - Jack's Trading Classroom "BTCUSD Daily Chart Spot Entry Conditions"

Currently, Bitcoin is still in a bearish trend on the 4-hour candlestick chart. The previously mentioned head and shoulders pattern has not been fully realized yet. Today's analysis focuses on the buying opportunity in the spot market on the daily chart, where the daily candlestick retraces to EMA144 and 169.

If the daily candlestick closes above the upper EMA12 filter line and does not cross below the channel formed by EMA144 and 169, it can be considered as the end of the retracement. Buying spot at the low point with a stop-loss and setting the lower point as the stop-loss level for the spot.

If the EMA12 filter line crosses below the EMA144 and 169 channels below, the strategy is considered ineffective.

Recently, the digital currency market has experienced large fluctuations. It is recommended for traders to strictly implement risk control measures and avoid high leverage and high contract volume operations to prevent additional losses caused by volatile market conditions. This article reflects personal opinions, please proceed with caution and virtual currency trading may involve risks to your capital.

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