"Jack's Trading Classroom": BTCUSD Bitcoin Long and Short Division

Original: Jack's Trading Classroom "BTCUSD: The Boundary Between Long and Short of Bitcoin"

Starting with a review of our previously published analysis articles, on April 30, 2020, we released a technical analysis titled "BTCUSD Daily Chart Long and Short Layout." At that time, in the article, we mentioned, "For operators mainly engaged in short selling, it is recommended to switch the chart to a one-hour or four-hour candlestick chart. Reversal patterns such as arc tops, head and shoulders, double tops, etc., formed on smaller timeframe charts, combined with pattern breakouts, make it more reasonable to enter short positions."

Currently, looking at the daily chart of Bitcoin, from our technical analysis "BTCUSD Daily Chart Long and Short Layout" published on April 30, 2020, to now, BTCUSD has continued to stay below the daily level resistance at 9419.0 as mentioned in our previous article, and the descending resistance trend line on the larger timeframe has not been broken yet.

Over the past week, short-term operations with higher leverage can only be conducted on smaller timeframe charts such as 15 minutes and h1, providing opportunities for both long and short positions in recent days. Some good examples include:

"BTCUSD Short-term Analysis" released on May 4
"BTCUSD Short-term Head and Shoulders Bottom Short Comment" released on May 5

As well as short-term and four-hour closing pattern discussions mentioned in the group chat yesterday, for larger timeframe spot and long-term trading, we still need to exercise patience, waiting for entry after the upper resistance level is broken, whether in spot trading or with lower leverage long positions. From a fundamental perspective, attention can be paid to the upcoming Bitcoin halving event in the next week. Although the bull market has not yet arrived, the halving event still has a certain impact on the market. By patiently waiting for breakthroughs to enter, we can maximize our winning rate and profitability.

Upper resistance levels
R1 9419.0
R2 10315.0
R3 11380.0
R4 11730.0
Lower support levels
S1 8089.0
S2 7467.0
S3 7190.0
S4 6436.0
S5 5227.5
S6 3832.5

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 carry risks to your capital.

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

Related Reading

• "Jack's Trading Classroom" BTCUSD Short-term Head and Shoulders Bottom Short Comment
• "Jack's Trading Classroom" BTCUSD Short-term Analysis

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