Jack's Trading Classroom | Short-term Long Position Layout for BTCUSD

On July 27, 2021, we published a technical analysis titled "BTCUSD Sees Major Cycle Buying Conditions Again After Ten Months," and following the publication of the article, Bitcoin showed strong performance, breaking through the $42,000 level in a short period of time, reaching a high of $42,605.5.

On July 27, 2021, we published a technical analysis titled "BTCUSD Sees Major Cycle Buy Conditions Again After Ten Months," and after the article was released, Bitcoin showed strong performance, breaking through the 42,000 level in the short term, reaching a high of 42,605.5.

Currently, we see the one-hour candlestick chart of BTCUSD, and in the short-term chart of Bitcoin, the candlestick is currently retracing to the EMA144 169 moving average support channel of 39,404-39,776.

It is evident that the EMA144, 169, 576, 676 Vegas channel moving average combination below, with no crossovers and the opening diverging upwards, forming a bullish alignment.

Next, if the EMA12 filter line cannot cross below the EMA144 169 moving average support channel, and the candlestick closes above the EMA12 filter line on the one-hour chart,

it is considered that the conditions for entering long positions are met, and the stop-loss point can be set at the retracement of the moving averages' previous low, with the temporary low set at 39,209.5.