"Jack's Trading Classroom": BTCUSD Bitcoin uptrend forming
Original Jack's trading classroom "Formation of BTCUSD Bitcoin Uptrend"
Table of Contents
Currently, we are looking at the one-hour candlestick chart of BTCUSD. In the chart, we can see that the lows and highs of Bitcoin are gradually rising to form a trend line, creating a standard uptrend. The EMA exponential moving average of the short cycle is crossing upwards, with diverging openings forming a bullish alignment, indicating a stronger bullish trend in the short term.
As the current Bitcoin price is relatively high, it is reasonable to enter long positions at the support trend line on pullbacks. The hourly resistance level to watch out for is at 10124.0
Resistance levels above
R1 10124.0
Support levels below
S1 9755.5
S2 9678.5
S3 9528.0
In recent days, the digital currency market has experienced significant volatility. It is recommended for operators to strictly implement risk management 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. Cryptocurrency trading may pose risks to your capital.
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