Cryptocurrency Scholar: Is the slow bull market of 12.2 Bitcoin like boiling a frog in warm water starting? The large-scale trend remains unchanged
The current price of Bitcoin is 97,200, it is now just past 5:10 AM Beijing time, yesterday it was at the 70,000 mark, a difference of 200 points, like boiling a frog in warm water, it is very obvious that all indicators are contracting, the market is entering a slow bull phase, continuously stretching slowly. At this time, whether long or short, it is easy to be washed out of the market. Regardless, my advice is very simple: stay alive and prioritize protecting the chips in your hand.
Looking at the daily candlestick chart, it is consolidating at a high level, the EMA15 trend indicator has reached 94,000, MACD is contracting downward, DIF and DEA are spreading downward at a high level, forming a divergence trend with the candlestick, Bollinger Bands are contracting, the upper band has started to stretch upward, breaking through 105,000 to 108,000, and a continuous downward pressure market has begun to turn. The bullish trend remains unchanged, and the main force seems to be consolidating but is actually starting to exert force.
The four-hour candlestick chart shows a continuous slow rise in the market, rising from 95,000 to 97,000. The EMA15 trend fast line support is also approaching 97,000. MACD is increasing in volume, and DIF and DEA are spreading at a high level. The Bollinger Bands are contracting, the upper band has reached 98,000, and the lower band has returned to 95,400. The short-term trend indicates it is suitable for making swings. My advice is to wait for a pullback; the trend is bullish, so remember what I often say: do not trade against the trend. Wait for a pullback; under the condition that the large-scale trend remains unchanged, all pullbacks are false signals for shorts and opportunities for longs.
Short-term strategy reference: The market is not 100% certain, so always set stop-losses; safety first. Small losses with big profits are the goal.
Short positions at 98,000 to 98,500, with a stop-loss at 99,000 to 99,500, stop-loss of 500 points, target at 97,000 to 96,000, and a break below targets 95,000 to 94,000.
Long positions at 94,500 to 95,000, with a stop-loss at 92,500 to 93,000, stop-loss of 500 points, target at 96,000 to 97,000, and a break above targets 98,000 to 98,500.
I am a cryptocurrency scholar, a warrior who has always been protecting the retail investors. I wish my fans to achieve financial freedom in 2024. Let's work hard together!