"Jack's Trading Classroom: BTCUSD Short-Term Pattern Update"

Currently, we are looking at the 15-minute candlestick chart of BTCUSD. Bitcoin is showing a typical ascending triangle convergence pattern in the short-term chart, with the high point at 18310.0 set as the Fibonacci 100 sequence, coinciding with the top resistance of the triangle convergence.

Currently, we see the 15-minute candlestick chart of BTCUSD, where Bitcoin is forming a typical ascending triangle pattern in the short-term chart. The Fibonacci 100 level is set at the high point of 18310.0, which coincides with the resistance at the top of the triangle convergence.

The low point of 17235.0 is set as Fibonacci 0, and it is evident that Bitcoin retraced to the Fibonacci 61.8 level at 17999.5. The short-term trend still shows a bullish pattern. Upon breaking the resistance above, it may target two price levels:

The first bullish target is in the Fibonacci 127.2-138.2 range of 18602.5-18720.5, and the second bullish target is in the Fibonacci 161.8 at 18974.5.

If the trend line breaks, as it retraced to the Fibonacci 61.8, the breakout strategy is valid until it falls below 61.8.

In recent days, the digital currency market has shown 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 represents personal opinions, and readers should exercise caution when referring to it, as cryptocurrency trading may pose risks to your capital.

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