"Jack's Trading Classroom: Long Strategy for ETHUSD"

Original Jack's trading classroom "Bullish Trading Strategies for ETHUSD"

Currently, we can see the 4-hour candlestick chart of ETHUSD. In the 4-hour candlestick chart of Ethereum, we can see that Ethereum recently broke through the descending resistance trendline. Before the breakout, it retraced to the Fibonacci sequence 38.2 support at 334.70, and has already surpassed the previous high near the resistance level of 368.65. As the Fibonacci sequence 100 broke through 370.55, along with a retracement to the 38.2 support, it could potentially reach the Fibonacci sequence 138.2 level at 392.75 in the future.

Using trendline analysis, due to the breakthrough of the descending resistance, we can also identify the starting point of this trend, with the price point at 394.50, which is close to the Fibonacci sequence 138.2 level of 392.75. Therefore, following the trendline breakout strategy, it is also possible to target the range of 392.75-394.50.

In recent days, the digital currency market has experienced significant volatility. It is recommended that operators 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 read with caution, as cryptocurrency trading may pose risks to your capital.

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