"Jack's Trading Classroom" BTCUSD is still dominated by bearish operations at the moment.

Original Jack's trading classroom "BTCUSD short-term bearish sentiment rising"

Currently, we are looking at the 15-minute candlestick chart of BTCUSD. We can observe that in the current chart, the highs and lows of BTCUSD are still continuing to probe lower. We all know that a typical downtrend must have:

1. Lower lows
2. Lower highs

Therefore, we can judge that the current trend is still in a downward phase, and judging by the EMA exponential moving average in the chart, currently, the EMA is downward crossing and diverging downwards, forming a typical bearish moving average alignment in both the one-hour and 15-minute charts. Therefore, it can be judged that in the short-term trend, bears are still in control. In short-term and swing trading, it is recommended that traders focus on bearish trend-following operations, unless a bullish reversal pattern is formed and established, then short-term long positions can be entered.

Resistance levels above
R1 8633.0
R2 8807.5
R3 9146.0
R4 9419.0
Support levels below
S1 8290.0
S2 8089.0

In recent days, the cryptocurrency market has seen significant fluctuations, and operators are advised to strictly implement risk control and avoid high leverage and high contract volume operations to prevent additional losses caused by volatile market conditions. This article is personal commentary, please read with caution, as cryptocurrency trading may carry risks to your capital.

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Personal Website: jackbtc.io

Related Reading

• "Jack's Trading Room" BTCUSD Discussion on Daily Chart Views
• "Jack's Trading Room" BTCUSD Recent Trend Analysis

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