"Jack's Trading Classroom: BTCUSD Bitcoin Short-term Update"

Original trading classroom "BTCUSD Bitcoin Short-term Update" by Jack

In the analysis article "BTCUSD Triangle Convergence Trend Line Breakthrough Market Outlook" mentioned yesterday, it stated, "Wait for the key resistance at 9419.0 to be broken above, choose to enter the long position again with a breakthrough order."

Currently, we have switched the chart to the one-hour candlestick chart of Bitcoin. After the Bitcoin triangle convergence breakthrough trend line, it is recommended to continue operating in a bullish manner until a top pattern is formed or a trend reversal occurs. Yesterday, after reaching a high of 9442.0 and pulling back to 61.8 at 9285.0, the bullish view continued. It has already reached the first target range of 127.2-138.2 at 9554.0-9599.0. Next, we wait for the range of 127.2-138.2 to break through at 9554.0-9599.0. Since Bitcoin pulled back to the Fibonacci sequence 61.8 at 9285.0 on the one-hour chart, a breakthrough in this range could lead to a further rise to 161.8 at 9696.5.

Upper resistance levels
R1 9782.0
Lower support levels
S1 9419.0
S2 9278.0
S3 9138.5

In recent days, the digital currency market has experienced large fluctuations. It is recommended that operators strictly adhere to risk control measures and avoid high leverage and high contract volume operations to prevent additional losses caused by volatile market conditions. This article is a personal opinion. Please read with caution. Cryptocurrency trading may involve risks to your capital.

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