"Jack's Trading Classroom" Ethereum, BCH Trend Analysis

(1) ETHUSD Ethereum trendline broken

ETHUSD Ethereum trend line breaks

Currently, we see the one-hour candlestick chart of ETHUSD, and earlier Ethereum has broken through the upward support trend line on the one-hour chart. With the trend line breaking, it is advisable to exit long positions overall. Based on the EMA (Exponential Moving Average) analysis, EMA15 has crossed below EMA50 to form a death cross, and the lower EMA200 can be seen as a support average at 452.

The EMA200 support average has coincidentally formed a bottom multiple times earlier, serving as a reference for the support level in the gray rectangle pattern. If it breaks below EMA200 and closes lower, the trend within the one-hour cycle chart is likely to turn bearish, with support and resistance levels referenced by the black horizontal lines in the chart.

BCHPERP layout within the downtrend

Currently, we see the one-hour candlestick chart of BCHPERP, which presents a typical descending channel. As this downtrend has not yet broken through, it is advisable to continue with a bearish view.

If the upper resistance trend line is broken, it can be considered a trend reversal. Entering long positions upon a breakout above the trend line, the target can be up to around 277.5, near the starting point of the downtrend, with stop-loss set at the low point.

In recent days, the digital currency market has experienced significant volatility. It is recommended that operators strictly adhere to risk management and avoid high leverage and high contract volumes to prevent additional losses caused by volatile market conditions. This article is for personal commentary, please consider it carefully, as cryptocurrency trading may pose risks to your capital.

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