"Jack's Trading Classroom: Views on BTCUSD after the pullback"

Currently, we are looking at the one-hour candlestick chart of BTCUSD. Bitcoin experienced a sharp drop of over 7000 points yesterday, shifting to a short-term bearish trend.

Currently, we are looking at the one-hour candlestick chart of BTCUSD. Bitcoin experienced a drop of over 7000 points yesterday, shifting to a short-term bearish trend.

The medium to long-term bullish pattern remains intact, having retraced back to the EMA144 and EMA169 moving average support channels twice earlier. After the initial formation at 27744.0, it closed higher than the EMA12 filtering line, meeting the conditions for entering long positions at lower multiples, with the stop-loss set at the low point of 27744.0.

For leveraged long positions, the leverage should be less than 10x, or it is more reasonable to operate in the spot market for this short-term trade. For traders accustomed to using higher leverage in contract trading, it is advisable to wait for the price to close above the EMA12 filtering line without crossing below the EMA144 and EMA169 moving average support channels. In this case, choosing to enter long positions at higher multiples with stop-loss set at the retracement level is recommended.

In recent days, the cryptocurrency market has experienced significant volatility. It is recommended that traders strictly adhere to risk management measures and avoid high leverage and high contract volume operations to prevent additional losses caused by volatile market conditions. This article reflects personal opinions, and readers are advised to consider it cautiously. Cryptocurrency trading may involve risks to your capital.

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