The essence of trading is survival, and only then is it about profit. Therefore, before each operation, think carefully about whether your actions are reasonable and whether your capital is safe. You need to form a trading philosophy that belongs to you and continuously optimize and improve it. Although the scholar's suggestions may not make you rich overnight, they can help you stay in the game. Only those who survive long term in the cryptocurrency circle and persist until the end can achieve the results they desire. I hope you can understand this.
I am a scholar in the cryptocurrency circle, a warrior who has been protecting the leeks. I wish my fans financial freedom in 2024, let's work hard together!
Scholar in the cryptocurrency circle: Bitcoin (BTC) market analysis on December 2, 2024
The current price of Bitcoin is 97,200. It is now just past 5 AM Beijing time. Yesterday, the price was around 70,000, a difference of 200 points. It is very obvious that various indicators are contracting, and the market is entering a slow bull phase, continuously stretching slowly. Regardless of whether one is bullish or bearish, it is easy to get shaken out of their positions at this time. No matter what, my advice is very simple: prioritize survival and protect your chips.
Looking at the daily K-line, it is consolidating at a high level. The EMA15 trend indicator has reached 94,000, and the MACD is decreasing in volume. The DIF and DEA are both expanding downwards at high levels, forming a top divergence trend with the K-line. The Bollinger Bands are contracting, and the upper band has started to stretch upwards, breaking from 105,000 to 108,000. A continuous downward pressure has started to show a turning point. The bullish trend remains unchanged; it seems that the main force is consolidating but actually starting to gain momentum.
The four-hour K-line shows a continuous slow rise, from 95,000 to 97,000. The EMA15 trend support line is also approaching 97,000. MACD is increasing in volume, and the DIF and DEA are expanding at high levels. The Bollinger Bands are contracting, with the upper band reaching 98,000 and the lower band returning to 95,400. The short-term trend indicates that it is suitable for making waves. My suggestion is to wait for a pullback. The trend is bullish, so remember what I often say: don’t trade when the trend is adjusting; wait for a pullback. Under the condition that the larger trend remains unchanged, all pullbacks are opportunities to go long.
Short-term trading thoughts: The market is not 100% certain, so it is essential to manage stop losses. Safety is the priority; taking small losses for large gains is the goal.
Short positions from 98,000 to 98,500, with a defense from 99,000 to 99,500, stop loss at 500 points, target looking at 97,000 to 96,000, if broken, looking at 95,000 to 94,000.
Long positions from 94,500 to 95,000, with a defense from 92,500 to 93,000, stop loss at 500 points, target looking at 96,000 to 97,000, if broken, looking at 98,000 to 98,500.
Specific operations should focus on real-time market data. For more information, you can consult the author. There may be delays in publishing the article, so the suggestions are for reference only, and risks are borne by the reader.
This article is exclusively contributed by the scholar in the cryptocurrency circle and represents the scholar's exclusive viewpoint. The author has in-depth research on BTC, ETH, DOGE, DOT, FIL, EOS, etc. Due to the timing of the article, the above viewpoints and suggestions are not real-time and are for reference only. Risks are borne by the reader. Please indicate the source when reprinting. Manage your positions reasonably, and do not operate with heavy or full positions. The scholar also hopes that investors understand that the market is always right. If you are wrong, you should summarize your own issues and not let the profits that should be yours fly away. There is no need to be sharper than the market in investment. When the trend comes, respond and follow it; when there is no trend, observe and be still. It is not too late to act once the trend becomes clear. Tomorrow's success comes from today's choices. Heaven rewards diligence, the earth rewards kindness, humanity rewards sincerity, business rewards trust, industry rewards excellence, and art rewards heart. Gains and losses often occur unexpectedly. Cultivate the habit of strictly managing stop losses and take profits for each trade. The scholar in the cryptocurrency circle wishes you happy investing!
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