"Jack's Trading Classroom: BTCUSD Outlook Update"

Original Jack's trading classroom "BTCUSD Outlook Update"

Currently looking at the four-hour candlestick chart for BTCUSD, in our May 28 analysis article "BTCUSD Short-term Resistance Trendline Breakthrough," we mentioned that after the breakthrough of the downtrend line, the price continued to rise to the resistance level of 9695.0. The price has also rebounded back to the original broken upward support trendline.

In the chart, we can see that another medium-term downward channel has been broken through, and after the breakthrough, it has retraced back to the original downtrend line, indicating the potential to revisit the original trend starting point. The upper structural resistance level is in the range of 9960.0-10098.5. If this resistance range is broken through, the price may rise to the target range mentioned earlier, 10438.5-11088.0.

For traders operating with long positions, it is suggested that after the breakthrough of the upper resistance level at 9695.0, they can choose to enter the market with breakout long positions and trade until the upper structural resistance range of 9960.0-10098.5, selecting to take profit and exit.

Upper Resistance Levels
R1 9695.0

Lower Support Levels
S1 9419.0
S2 9170.0
S3 8862.0
S4 7736.0

In recent days, the digital currency market has seen larger fluctuations. It is recommended that traders 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 reflects personal opinions, please read with caution, as cryptocurrency trading may involve risks to your capital.

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