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Cryptocurrency expert Yang: Bitcoin market analysis and reference for December 3, 2024.
The daily chart of Bitcoin shows a highest price of 97300 and a lowest price of 94400, accurately retracing to the support of the EMA12 trend line. Unlike last week when the EMA12 support was at 95400, this week it has risen to 94500, which presents an entry opportunity. The current trend indicators remain bullish; although MACD is shrinking downward and there is a top divergence, DIF and DEA are extending downward from high levels. The Bollinger Bands are continuously contracting, with the upper resistance at 100800 and the middle support around 94100. The KDJ shows a contracting state. Given that the trend's bottom seems not yet concluded, it is essential to set proper defense and stop-loss levels to cope with market uncertainties, seizing potential opportunities while managing risks.
The four-hour chart shows a long bearish candle. Previously, the bullish pull to 97000 was unsuccessful, and it fell back to a low of 94400. The key now lies at the EMA90 trend line at 94100. Once it breaks, the 90000 level becomes extremely important. MACD is shrinking downward, and DIF and DEA are approaching the 0 axis. The lower Bollinger Band at 95400 has been lost, and the current K-line has returned to the Bollinger channel. Focus on whether 97000 can break through; if not, partially take profits on long positions. If it breaks, continue to hold. Operate in line with the trend, primarily long with some short.
Key points for short-term trading strategy: Market conditions are unpredictable, and there is no absolute certainty. Therefore, it is essential to set stop-loss levels and prioritize the safety of funds. Trading short-term involves trading a small stop-loss cost for a chance at significant profit; this is the core pursuit and goal of short-term trading.
Short-term strategy:
Long from 94000 to 95000, add to position at 93000, stop loss at 500 points, target from 96500 to 97000.
Short position from 96500 to 97500, add to position at 98500, stop loss at 500 points, target from 95000 to 94000.
Disclaimer: The above analysis represents the author's personal opinion and does not constitute specific operational advice. Trading based on this analysis is at your own risk. Investing has risks, and one must be cautious when entering the market.
This content is exclusively planned and published by cryptocurrency expert Yang. For more real-time investment strategies, spot contract trading techniques, and operational skills, you can consult the author for learning and exchange. He has focused on BTC, ETH, and altcoin spot contracts for many years, hoping to help you achieve outstanding results!
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