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Cryptocurrency Academy: Latest Bitcoin (BTC) market analysis as of 2024.11.30
The current price of Bitcoin is 97300, and it's currently 3:50 AM Beijing time. Let's review; yesterday, we set a short at 97500, with a defense at 98200 for the short, and a stop loss of 500 points, almost getting stopped out. The upper pressure is quite strong. I mentioned the cup pattern in yesterday's article, and many people are unclear; there is a flag shape at the cup's mouth, and this flag's pressure level is right near the daily K-line's high of 98500. The neckline has been confirmed at 97000, and shorts should not be held for long. We should watch if the support near 95500 can hold before deciding how to proceed.
Currently, the daily K-line has a high of 98620 and a low of 95350, and the main force is still pushing towards 99000. The EMA15 trend indicator support has stretched to 93000, and even the major support level has reached 87300. The overall major trend remains bullish. The MACD shows a decrease in volume with an increase in accumulation, the market top divergence remains, and the DIF and DEA are spreading downwards. The Bollinger Bands are contracting, with the upper pressure level reaching 101500, and the mid-track support is focused on 92500. The KDJ is about to form a golden cross.
On the four-hour K-line, we encounter clear resistance focusing on the pressure at 98000. The EMA trend is contracting, and the K-line is expected to have strong momentum to retrace to the EMA15 support. Watch the trend support point at 96000. The MACD shows an increase in upward volume but is not strong. The DIF and DEA have just broken above the 0-axis line. From an overall trend perspective, there are signs of a retracement above; watch the strength of the 96000 support. If it is effective support, it can be chosen as the first entry point to test the position. The strategy should follow the major bullish trend, with the focus on retracing support as the main strategy, and high positions should be treated with caution. In a bullish trend, all retracements should be treated as traps for shorts.
Short-term strategy reference: The market is never 100% certain, so always manage your stop loss; safety first, small losses, and big profits are the goal.
Short at 98000 to 98500, defense at 99000 to 99500, stop loss 500 points, target looking at 97000 to 96000, breaking point looking at 95000 to 94000
Support from 94500 to 95000 below, defense from 92500 to 93000, stop loss 500 points, target looking at 96000 to 97000, breaking point looking at 98000 to 98500
Specific operations should be based on real-time data from the market. More information can be consulted with the author. There may be delays in the publication of the article; suggestions are for reference only, and risks are borne by oneself.
This article is exclusively contributed by the cryptocurrency academy and only represents the academy's viewpoint. It has in-depth research on BTC, ETH, DOGE, DOT, FIL, EOS, etc. Due to the timing of the article's release, the above opinions and suggestions are not real-time and are for reference only. Risks are borne by oneself. Please indicate the source when reprinting. Manage your position size reasonably and avoid overtrading. The academy also hopes that all investors understand that the market is always right, and if you are wrong, you should summarize where the problem lies. Do not let the profits that should have been yours slip away. There is no need to be smarter than the market in investing. When a trend comes, respond to it; when there is no trend, observe and stay calm. It is not too late to act once the trend becomes clear. Tomorrow's success is rooted in today's choices. Heaven rewards diligence, Earth rewards kindness, humanity rewards sincerity, commerce rewards trust, industry rewards excellence, and art rewards heart. Gains and losses happen in an inconspicuous way. Develop the habit of strictly managing stop losses and take profits for each trade. The cryptocurrency academy wishes you a happy investment!
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