"Jack's Trading Classroom: BTCUSD Short-Term Trend Analysis"

Original trading classroom by Jack, "BTCUSD Short-term Trend Analysis"

Starting with a review of our previously published analysis articles, on June 3, 2020, we released a technical analysis titled "BTCUSD Retesting Support Zone." At that time, we mentioned in the article, "As long as Fibonacci levels 38.2 and 93.0 are not breached on the downside, we recommend entering with a small position at high leverage for a long attempt."

Switching to a smaller timeframe chart, we currently observe the 15-minute candlestick chart of BTCUSD. As mentioned in the previous analysis, as long as Fibonacci support levels 38.2 and 93.0 are not breached on the downside, one can try a long position with higher leverage. Earlier, the BTCUSD price reached a high of 9691.5. On the upside, it faces short-term resistance at 9695.0, overlapping with the Fibonacci level of 61.8. Traders holding long positions with high leverage should be cautious of a potential pullback. It is recommended to monitor the breakout situation going forward.

If this resistance level is convincingly breached, it could indicate a higher probability of continued strength in the short term. Entering long positions with high leverage upon a breakout seems more reasonable, and stop-loss orders should be placed below the support levels or recent lows.

Resistance levels:
R1 9695.0
R2 10315.0

Support levels:
S1 9419.0
S2 9170.0
S3 8862.0
S4 7736.0

In recent days, the digital currency market has experienced significant volatility. It is advised for operators to strictly adhere to risk management practices and avoid high leverage and high contract volume operations to prevent additional losses due to volatile market conditions. This article reflects personal opinions; readers are advised to use caution and virtual currency trading may pose risks to your capital.

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