Jack's Trading Room | BTCUSD Shows Major Buying Conditions Again After Ten Months

In September 2020, we published a technical analysis titled "BTCUSD Daily Chart Spot Entry Conditions," in which we mentioned using the daily chart to implement the Vortex Tunnel buy-in conditions. After the buy-in conditions were met, the price of Bitcoin continued to strengthen, initiating a bull market.

Today we are looking at the three-day chart of BTCUSD, which is similar to September last year. After a pullback to the EMA144 169 moving average support channel, the premise is that the EMA12 filtering line cannot cross below the moving average support channel.

The price has closed higher on the three-day chart above the EMA12 filtering line, and the conditions for entering a long position have been met.

The stop-loss point is set at the previous low of 29258.0 before the pullback to the support channel. Due to the long distance of the stop-loss and the long trading cycle, it is recommended to buy with spot transactions.

If you prefer to trade with leveraged contracts, it is recommended to operate with low leverage of 4 times or less to avoid position liquidation caused by large cycle fluctuations.

In recent days, the digital currency market has experienced large fluctuations. Operators are advised 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 is for personal commentary, please read with caution, as cryptocurrency trading may involve risks to your capital.

WeChat Official Account: Jack's Trading Room

Official TG Channel: https://t.me/JackCryptoRoom