Jack's Trading Classroom | BTCUSD 4H/D Bitcoin Short Review

Currently, we are looking at two charts for Bitcoin, the 4-hour candlestick chart and the daily chart. The support on the 4-hour chart is at the Vagus moving average support channel golden cross range, around 39300-39500 (left side of the chart), while the support on the daily chart is at the Fibonacci sequence 38.2 level (38308.0) (right side of the chart). Those who entered long positions with a 12-hour cycle should set a stop-loss order below 42622.0 after it breaks.

Currently, we are looking at the Bitcoin 4-hour candlestick chart and the daily chart. The support on the 4-hour chart is located in the golden cross area of the Vegas moving average support channel, around 39300-39500 on the left side of the chart. The daily chart support is at the Fibonacci sequence 38.2 level at 38308.0 on the right side of the chart. The long position entered at 42622.0 with a 12-hour cycle should have been stopped out after breaking below.

When the stop-loss level is triggered during trading, it is advisable to avoid holding positions. Buying in at 37100 based on the three-day moving average, with a stop-loss set at the daily low of 29258.0. Holding spot positions is still viable. Avoid short-term operations and wait for a complete retracement to the support level, or wait for a buy condition to appear in the Vegas channel on the daily chart before considering re-entry.

In recent days, the cryptocurrency market has shown significant volatility. It is recommended for traders to strictly adhere to risk management practices and avoid high leverage and high contract volume operations to prevent additional losses caused by volatile market conditions. This article is for informational purposes only, please use caution when considering the content, as cryptocurrency trading may pose risks to your capital.

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