"Jack's Trading Classroom: BTCUSD Waiting for Entry Conditions with the Same Strategy"

Original trading classroom by Jack Shih: "BTCUSD Waiting for Entry Conditions with the Same Strategy"

On October 28 and 29, 2020, we released two technical analysis articles, "BTCUSD Short Update" and "BTCUSD Short-term Long Entry Conditions Met." Subsequently, as updated in the comments section below our articles, the take-profit price level was reached.

Today, we are observing the one-hour candlestick chart of BTCUSD. In the chart, we can see the support of the yellow and orange moving averages formed by EMA144 and EMA169, and the price has retraced.

Next, attention should be paid to the upper EMA12 filter line (black line), with the premise that the price cannot cross below the channel support formed by EMA144 and EMA169. After the candlestick closes above the EMA12 filter line, a long position can be considered, with the low point currently at 13426.0 as the stop-loss level.

Before the candlestick closing price is above the EMA12 filter line, the stop-loss level of the low point may be adjusted downwards.
It is important to note that this strategy should wait for the conditions to form before entering the market to avoid entering prematurely and incurring additional losses.

Resistance levels:
R1 13636.5
Support levels:
S1 13409.0
S2 13106.5
S3 12996.0

In recent days, the cryptocurrency 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, and readers should carefully consider it. Cryptocurrency trading may pose risks to your capital.

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