"Jack's Trading Classroom" BTCUSD short-term long position entry conditions met

Currently, we are looking at the one-hour candlestick chart of BTCUSD. Last night, a technical analysis titled "Brief Update on BTCUSD" was published, mentioning a pullback to the moving average channel (EMA144, 169).

Currently, we are looking at the one-hour candlestick chart of BTCUSD. Last night, a technical analysis titled "BTCUSD Brief Update" was published, mentioning a pullback to the moving average channel after EMA144 and 169.

If the closing is above the filtering line EMA12, one can consider entering a long position. The conditions for entering a long position are now met, with a stop loss set at the low point of 12892.5. Protect the stop loss after breaking through the upper resistance level, or set a protective stop loss when the risk-reward ratio exceeds 1:1.

Upper resistance levels:
R1 13409.0
R2 13636.5

Lower support levels:
S1 13106.5
S2 12996.0
S3 12220.5

In recent days, the digital currency market has shown significant volatility. It is recommended that traders strictly adhere to risk management 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.

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