"Jack's Trading Classroom: Short-term Head and Shoulders Bottom Analysis on BTCUSD"

Original: Jack's Trading Classroom "BTCUSD Short-term Head and Shoulders Bottom Short Review"

Currently looking at the 15-minute candlestick chart of BTCUSD, we can see a classic inverse head and shoulders pattern forming. The BTCUSD neckline has already been broken through, following the pattern we have taught before.

The price has reached a rebound range of 127.2-138.2 at 9092.5-9141.0, and is expected to retest the neckline range at 8972.0. In the future, we may see a high probability of going long in the short term.

The first target can be determined by the pattern, with the previous high of 9205.5 considered as the first target. If surpassed, the final target of the head and shoulders pattern, which is the Fibonacci sequence 200 level at 9415.0, may be reached.

Resistance levels
R1 9132.5
R2 9419.0

Support levels
S1 8873.5
S2 8926.5
S3 8972.5
S4 8812.5

In recent days, the digital currency market has experienced significant volatility. It is recommended that operators strictly implement risk control 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 involve risks to your capital.

WeChat Official Account: Jack's Trading Room
Personal Website: jackbtc.io

Related Reading

• "Jack's Trading Room" BTCUSD Short-term Analysis
• "Jack's Trading Room" BTCUSD Daily Chart Long and Short Layout

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