"Jack's Trading Classroom: BTCUSD Four-Hour Cycle Buy Signal"

Currently, we are looking at the four-hour candlestick chart of BTCUSD. Earlier, BTCUSD broke below the symmetrical triangle support trendline, reaching a low of 17645.0, and then bounced off the support level at 17774.5. It also retraced to the support channel of EMA144 and EMA169 moving averages before closing above the EMA12 filter line.

Currently, we are looking at the four-hour candlestick chart of BTCUSD. Earlier, BTCUSD broke below the support trend line of the converging triangle bottom, reaching a low of 17645.0, and bounced back from the support level at 17774.5. It also retraced to the EMA144 and EMA169 moving average support channels, and the price later closed above the EMA12 filter line.

The buying conditions for the four-hour Vegas tunnel are met, with the low of 17645.0 set as the stop-loss point. If the stop-loss is triggered, one should exit immediately to avoid holding positions. Profit-taking should depend on the subsequent trend, using the Fibonacci sequence to find a reasonable profit-taking point, or setting a protective stop-loss after achieving a risk-reward ratio of 1:1. Support and resistance levels can be referenced by the black horizontal lines in the chart.

In recent days, the digital currency 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 reflects personal opinions, please read with caution, as cryptocurrency trading may pose risks to your capital.

WeChat Official Account: Jack's Trading Room

Public Telegram Group:https://t.me/jackscrypto