"Jack's Trading Classroom" BTCUSD Mid-term Long/Short Analysis

Original trading classroom "BTCUSD Mid-term Long/Short Analysis" by Jack

Currently, we are looking at the four-hour candlestick chart of BTCUSD. The chart shows that BTCUSD has fallen below the previously mentioned support trendline and has dropped below the 6436.0 support level of the daily cycle. The current price has regained support above the 6436.0 resistance level of the daily cycle. The short-term EMA exponential moving average in the chart is converging upwards, indicating a potential reversal in price within the four-hour chart.

If the price can hold above the 6436.0 support and the EMA exponential moving averages intersect and diverge upwards, the medium-term trend of BTCUSD may rise to above 6981.5. This resistance level coincides with the EMA moving average resistance in the four-hour chart. It is recommended for traders to assess the bullish and bearish trends based on moving averages. A bullish alignment occurs when the moving averages cross upwards and diverge, potentially leading to a gap fill in the upper direction.

In recent days, the cryptocurrency market has experienced significant volatility. It is advisable for traders to strictly implement risk control measures and avoid high leverage and high contract volume trading to prevent additional losses during turbulent market conditions. This article reflects personal opinions, and readers are advised to use caution and discretion as cryptocurrency trading carries risks to your capital.

WeChat Official Account: Jack's Trading Classroom
Personal Website: jackbtc.io

Related Reading

• "Jack's Trading Classroom" BTCUSD View After Breaking Support Trendline

• "Jack's Trading Classroom" BTCUSD Continues to Consolidate, Pay Attention to Short-term Reversal Risks

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