"Jack's Trading Classroom: BTCUSD Continues to Strengthen"

Currently, we are looking at the 15-minute candlestick chart of BTCUSD. Bitcoin has recently retraced to the EMA144 and EMA169 support moving average channels on the short-term chart, and the price is trading above the EMA12 filter line, meeting the conditions for short-term long positions.

Currently, we are looking at the 15-minute candlestick chart of BTCUSD. Bitcoin has recently retraced to the EMA144 and EMA169 support moving averages on the short-term chart, with the price closing above the EMA12 filter line, meeting the conditions for short-term long positions.

Combining Fibonacci sequence analysis, with the high point set at Fibonacci 10040544.0 and the low point set at Fibonacci 029930.0, the retracement to the EMA moving average support channel coincides with the Fibonacci 61.8 support at 36489.5. The stop-loss point can be set within the range formed by the lower point and the support, which is more reasonable at 36489.5-36500.0.

The short-term downward resistance trend line above has also been broken, indicating a bullish outlook for the future market. Profit-taking targets can be determined using the Fibonacci sequence, with the first profit-taking target set at the Fibonacci 127.2-138.2 resistance range of 43431.0-44598.5. The second profit-taking target is set at the target price after the retracement to 61.8% at 36489.5, which is at the Fibonacci 161.8 level of 47103.5.

In recent days, the cryptocurrency market has experienced significant volatility. It is recommended that operators strictly follow risk control measures and avoid high leverage and high contract volumes to prevent additional losses caused by volatile market conditions. This article reflects personal opinions, please read with caution and virtual currency trading may pose risks to your capital.

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