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Crypto Circle Scholar: Latest market analysis of Bitcoin (BTC) on 2024.11.24
The current price of Bitcoin is 97535. 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 forming above 99,000. A short-term pullback opportunity is here. Wait for effective support to start placing long positions. In the short term, the main force has shown clear profit-taking behavior. The daily candlestick has pulled back to yesterday's support of 97200, which is worth paying attention to. As long as it holds, you can start entering. If it doesn't hold, wait for the next opportunity. Aggressive traders can look for short positions at 96000, with a stop loss around 300 points away. Conservative traders should wait for lower entries.
Currently, the daily candlestick shows a maximum of 98900 and a minimum of 97300. The EMA15 trend support fast line has reached above 90,000 and continues to stretch upwards. MACD's top divergence continues, with DIF and DEA expanding upwards but facing resistance. The Bollinger Bands continue to open upwards, and the bullish trend persists. The upper resistance level is at 104500, with the middle band at the 86000 level. In the overall trend of high divergence, if the bullish trend remains unchanged, continue to support what I said in six words: Do not act when the trend is not adjusted. Now that the trend is starting to adjust, look for positions to start testing long, keeping a good stop loss. Be sure to give yourself plenty of opportunities for trial positions. If you make a mistake and fail to monitor it, stop loss as needed, do not resist the market.
The four-hour candlestick shows a slow decline. Before the article was published, it broke the EMA15 trend support point of 97750. The next support point to watch is 96100. MACD is shrinking downwards, with DIF and DEA showing a downward dead cross expanding. The Bollinger Bands are contracting and nearing key support. Under the condition that the larger trend remains bullish, all bearish indicators should be treated as false signals. The middle Bollinger Band has lost support at 97600, with the lower band support reference at 94400. KDJ is expanding downwards, indicating that the downward movement has not yet ended. The strategy remains to go long at lows and short at highs.
Short-term strategy reference: The market is never 100% certain, so always set good stop losses. Safety first; the goal is to minimize losses and maximize gains. The strategy is mainly to go long on pullbacks to support and short as a supplement. Observe more and act less; do not resist the market.
Sell between 99500 and 100000, defend at 102000 to 103000, stop loss at 500 points, target at 98000 to 97500, if broken, look at 97000 to 96000.
Buy between 94500 and 95000, defend at 94000 to 93500, stop loss at 500 points, target at 96500 to 97500, if broken, look at 98500 to 99500.
Specific operations should be based on real-time market data. For more information, please consult the author. The article's release may have a delay, please use it for reference at your own risk.
This article is exclusively contributed by the Crypto Circle Scholar and represents only the scholar's views. In-depth studies on BTC, ETH, DOGE, DOT, FIL, EOS, etc. Due to the timing of the article's release, the above views and suggestions are not real-time and are for reference only. Risks are borne by the reader. Please indicate the source when reprinting. Control your position rationally and avoid heavy or full-position operations. The scholar also hopes that all investors understand that the market is always right. If you are wrong, you should summarize where the problem lies. Do not let profits that should have been yours slip away. There is no need to be smarter than the market. When a trend arises, follow it. When there is no trend, observe and remain calm. It is not too late to act after the trend becomes clear. Tomorrow's success comes from today's choices. The way of heaven rewards diligence, the way of earth rewards kindness, the way of humanity rewards sincerity, the way of business rewards trust, the way of profession rewards precision, the way of art rewards heart. Gains and losses happen unconsciously. Develop the habit of strictly adhering to stop losses and take profits for each trade. The Crypto Circle Scholar wishes you happy investing!
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