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Jack's Trading Classroom | Short review of BTCUSD indicators and patterns, buying conditions met for SOL and FTT on the four-hour chart

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At present, we are looking at the 12-hour chart of BTCUSD, where the chart recently retraced to the Fibonacci sequence 38.2 support level at 43267.0, also retracing to the EMA144 169 moving average support channel. Before the price crossed below the EMA12 moving average support channel EMA144 169, the price closed higher than the EMA12 filter line, thus confirming the buy condition on the 12-hour chart. Entry point at 47109.0 Stop-loss point at 42622.0 Due to the retracement support at the Fibonacci sequence 38.2 support 43267.0 The upper bullish target can be set at Fibonacci sequence 127.2-138.2 at 57210.5-58933.5 Simultaneously, looking at the one-hour candlestick chart of BTCUSD, after the buy condition was met on the 12-hour chart, a short-term downward trend appeared on the one-hour chart, but the trend line broke through, showing a bullish trend in the medium to short term. It is advisable to avoid short positions in the short term. The spot purchase made at the end of July using a three-day chart can still be held to await the final wave of the bull market rally.

FTTUSD Four-Hour Buy Condition Met

Currently, we see the four-hour candlestick chart for FTTUSD. Earlier, FTTUSD retraced to the EMA144 169 moving average support channel and closed above the EMA12 filter line, signaling that the buy condition is met according to the four-hour Vegas channel trading method.

Although there is still resistance from the downtrend line above, the buy condition indicated that this trend line is likely to be broken in the future.

  • Entry Point: 65.890
  • Stop Loss: 58.689

SOLUSD Four-Hour Buy Condition Met

Currently, we see the four-hour candlestick chart for SOLUSD. Earlier, SOLUSD retraced to the EMA144 169 moving average support channel and closed above the EMA12 filter line, indicating that the buy condition is met according to the four-hour Vegas channel trading method.

Unlike the FTTUSD trading pair earlier, SOLUSD's candlestick had a short upper shadow that pierced through the resistance trend line, with a similar pattern structure, and the indicators also indicate a bullish trend.

  • Entry Point: 157.5925
  • Stop Loss: 133.6175

In recent days, the digital currency market has seen significant volatility. It is recommended that operators 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 is for personal commentary, please read with caution, as cryptocurrency trading may pose risks to your capital.

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