Jack's Trading Classroom | Short-Term Bitcoin and Ethereum Vegas Channel Layout

Currently, we are looking at the one-hour candlestick chart of BTCSUD and ETHUSD. Both Bitcoin and Ethereum are within the short-term range, retracing to the support channel of EMA144 169 (BTCUSD 45409, 45690, ETHUSD 3133, 3159) in Vegas Moving Average. As the lower EMAs (EMA12 144 169 576 678) are in a bullish formation, we can follow the Vegas Tunnel Trading Method and wait for a long position buy condition to be met.

Currently, we are looking at the one-hour candlestick chart of BTCSUD and ETHUSD. Both Bitcoin and Ethereum have retraced within the short term, finding support at the Vegas Moving Average channel EMA144 169 for BTCUSD at 45409,45690 and ETHUSD at 3133,3159. With the formation of a bullish alignment of the EMA12 144 169 576 678 moving averages below, we can follow the Vegas Tunnel Trading Method and wait for a long entry condition to be met.

As a prerequisite, the EMA 12 filter line must not cross below the EMA144 169 forming the moving average support channel. We can wait for the candlestick to close above the EMA12 filter line on the one-hour chart as a confirmation for entry, setting stop-loss at the previous low retracement level.

Currently, the EMA12 filter line prices for Bitcoin and Ethereum are at 46552 and 3227 respectively. The EMA moving average prices will change over time, and judgment should be made based on the current parameters for the entry condition. If the EMA12 crosses below the EMA144 169 moving average support channel, it is considered that the entry condition has failed, and the long layout should be abandoned.