The essence of trading is survival, followed by profit. Therefore, before every operation, first think about whether your operation is reasonable and whether your capital is safe. You need to form a set of your own trading ideas and continuously optimize and improve them. The scholar in the cryptocurrency world’s advice may not make you rich overnight, but it can ensure you are always in the game. Only those who survive in the cryptocurrency circle for a long time and persist until the end can achieve the results they desire. I hope you can understand this.
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Scholar in the cryptocurrency world: 2024.11.24 Bitcoin (BTC) latest market analysis.
The current price of Bitcoin is 97,535. It is now 3:50 AM Beijing time. Bitcoin is just one step away from breaking 100,000. It is clear that there is significant selling pressure above, with resistance formed by the main force above 99,000. A short-term pullback opportunity is coming; wait for valid support to start positioning long. The behavior of taking profits by the main force is quite obvious in the short term. The daily K-line has pulled back to yesterday's support of 97,200, which is worth watching. As long as it holds, you can start to enter; if it doesn’t hold, wait for the next opportunity to position. For aggressive traders, short positions can be looked at around 96,000, with stop losses not too far away, around 300 points. Conservative traders should wait for lower long positions.
Currently, the daily K-line has a high of 98,900 and a low of 97,300. The EMA15 trend support fast line has already reached above 90,000 and continues to stretch upwards. The MACD top divergence continues, and the DIF and DEA are expanding upwards but face resistance. The Bollinger Bands are opening upwards, and the bullish trend continues. The upper resistance level is focused on 104,500, and the middle line is around 86,000. Overall, under the condition of high divergence in the trend, if the bullish trend remains unchanged, then the continued support I mentioned in six words is: do not trade when the trend is adjusting. Now that the trend is starting to adjust, you can find a position to go long and start testing positions, setting good stop losses. Make sure to give yourself enough opportunities to test positions. If mistakes are made and you did not pay attention, then set your stop loss without resisting.
The four-hour K-line shows a slow downward trend, having broken the EMA15 trend support point of 97,750 before the article was published. The next support point to focus on is 96,100. MACD is contracting downwards, and the DIF and DEA are crossing downwards, which continues to extend. The Bollinger Bands are narrowing and are about to reach a key support level. Under the unchanged large-scale bullish trend, all bearish indicators should be judged as false signals. The middle line of the Bollinger Bands has lost support at 96,600, with the lower support reference being 94,400. KDJ is spreading downwards, indicating that the downward movement has not yet ended. The strategy is to primarily go long on dips and short on highs.
Short-term strategy reference: The market is not 100%, so it is essential to set stop losses. Safety first, small losses and big gains are the goal. The main strategy is to go long on pullbacks and short as a supplement. Look more and act less, do not resist the market.
Short positions from 99,500 to 100,000, with a defense at 102,000 to 103,000, stop loss at 500 points, and targets looking at 98,000 to 97,500. If broken, look at 97,000 to 96,000.
Long positions from 94,500 to 95,000, with defense at 94,000 to 93,500, stop loss at 500 points, and targets looking at 96,500 to 97,500. If broken, look at 98,500 to 99,500.
Specific operations should be based on real-time data from the market. For more information, you can consult the author. There may be a delay in the release of this article; suggestions are for reference only, and risks are to be borne by the reader.
This article is exclusively contributed by the scholar in the cryptocurrency world and represents the scholar's sole viewpoint. I have in-depth research on BTC, ETH, DOGE, DOT, FIL, EOS, etc. Due to the timing of the article's release, the above viewpoints and suggestions are not real-time and are for reference only. Risks are to be borne by the reader. Please cite the source if reprinted. Control your positions reasonably when trading, and do not operate with heavy or full positions. The scholar also hopes that all investors understand that the market is always right. If you are wrong, you should reflect on your own issues and not let the profits that should be yours slip away. There is no need to be smarter than the market in investing. When a trend comes, respond and follow it; when there is no trend, observe and stay calm. It is not too late to act once the trend is clear. Tomorrow's success comes from today's choices. Hard work is rewarded, kindness is rewarded, honesty is rewarded, trust is rewarded, excellence is rewarded, and passion is rewarded. Gains and losses often occur unexpectedly. Develop the habit of strictly setting stop losses and take profits for each trade. The scholar in the cryptocurrency world wishes you happy investing!
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