"Jack's Trading Classroom: BCHPERP Trendline Breakout"

In the previous article "Layout within the downtrend of BCHPERP," we mentioned that

In the previous article "Layout within the downtrend of BCHPERP," we mentioned,

"If the upper resistance trendline is broken, it can be considered a trend reversal, and entering long positions can be based on the breakthrough of the trendline."

Currently, looking at the one-hour candlestick chart of BCHPERP, the upper resistance trendline of BCH has been confirmed to have broken through earlier. In the next hour, BCH could potentially rise to around 277.5, near the starting point of the downtrend.

Using the EMA exponential moving average as a technical indicator, EMA15 has crossed above EMA50, indicating a short-term trend reversal. Traders looking to go long can try setting stop-loss at the bottom low points and continue to operate long positions, gradually taking profit at the upper resistance levels.

Upper resistance levels
R1 257.35
R2 268.40
Lower support levels
S1 252.20
S2 244.20
S3 234.05

In recent days, the digital currency market has experienced significant fluctuations. 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 reflects personal opinions, please read with caution, as cryptocurrency trading may pose risks to your capital.

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