2024.12.31 Bitcoin (BTC) Latest Market Analysis
The current price of Bitcoin is 92,400. Yesterday, it was mentioned that friends coming from the north entered the market after the price dropped below 92,000. Many friends hesitated about whether to enter; the bearish sentiment was too strong, yet they ignored the essence of trading. It is completely emotions that prevent you from trading. What if there are rules? If you execute according to the trading system, you won’t be disturbed by external factors. You just need to plan your trades before the market opens and execute your plan during trading hours; otherwise, you will often miss such good entry points.
Looking at the order book, it is now 10 AM Beijing time, and on the last day of the year, the daily K-line tests the support of EMA60 at 91,530. This is the best entry point for those coming from the north. If you miss it, you can consider trying to go south above 95,000. This is the first entry point for going south; the second entry point is the intersection of EMA30 and 15 at 96,500. While the MACD is shrinking and accumulating, the DIF remains below the 0 axis, and the DEA is also trending down and may fall below the 0 axis at any time. Now it depends on whether the main force will pull back and break 95,000. Here, the Bollinger Bands' lower track support at 91,200 is effective, and the middle track is too far at 99,000, so it is temporarily not considered.
The four-hour K-line has returned to the golden ratio 0.786 balance point at 94,300. It still takes time to observe whether the market can form a head and shoulders bottom. The sideways range has been determined for now. The MACD has started to expand, and the DIF and DEA have formed a golden cross, indicating signs of a bullish trend. Therefore, friends choosing to go south above 95,000 should remember to set stop losses; safety comes first. The Bollinger Bands still show a downward trend, with the upper resistance level at 95,800. The thought process is to consider going south again after a pull-up, and those coming from the north should take profits when they can.
Short-term strategy reference: The market is not 100% certain, so always set stop losses; safety comes first. Small losses and large profits are the goal.
Entry point for going north: 92,000 to 91,000, with a defense at 90,500, stop loss at 500 points, target looking at 93,000 to 94,000, and if broken, looking at 94,500 to 95,000.
Entry point for going south: 95,000 to 95,500, with a defense at 96,000, stop loss at 500 points, target looking at 94,000 to 93,500, and if broken, looking at 93,000 to 92,000.
Don't forget, the darkest hour is often just before dawn. On the road to pursuing your dreams, you are never alone; you still have me.
