"Jack's Trading Classroom" Short-term View on BTCUSD

Original trading classroom "BTCUSD Short-term Analysis" by Jack Shih

Currently, we see the 15-minute candlestick chart of BTCUSD. In the 15-minute chart of Bitcoin, it has recently retraced to the support moving average channel formed by EMA144 and EMA169, and the price has closed above the EMA12 filtering line.

Combining trend analysis, Bitcoin has broken through the upper downtrend resistance line. Therefore, based on the market conditions, we should view the future market with a short-term bullish perspective. Long positions can be entered with a stop-loss set at the bottom low point of 15214.5.

It is important to note that the bottom low point at 15214.5 is crucial. If this low point is breached, a short-term double top pattern will be established, and long positions should be stopped out directly to avoid overexposure to excessive risks.

In recent days, the cryptocurrency 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 represents personal opinions, please read with caution, as cryptocurrency trading may involve risks to your capital.

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