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Academician of the currency circle: 2024.6.11 Bitcoin (BTC) latest market analysis reference
As of 2:00 a.m. before the publication, the current price of Bitcoin is around 70,000. Because of the box for several days, continuous operations were carried out within the box. Long positions were around 69,300, and the profit was 69,800. It took three rounds of trading to get 1,500 points in total. Currently, the short position at 70,000 is about 5%, and the stop loss is 70,500. If the long exchange point breaks 70,500, exit with a small loss. If it does not break, just hold and profit at 69,300.
Let's look at today's market. At present, the daily K-line of Bitcoin stands on the EMA15 trend fast line support of 69150 and then directly stretches to break the 70,000 mark. As expected, although Bitcoin dived below 68500 on the 7th, there will always be a slow rise after a quick drop. According to the ability of the golden section line to predict in advance, the upper pressure level is near the 70,000 mark of 0.168 pressure level, so I said that Bitcoin will still return to consolidate near the 70,000 mark. Now it has been verified that the trend is very strong and the suspicion of inducing more cannot be ruled out. Therefore, we trade according to the conventional trading rules and arrange short positions at the pressure level. After the position is broken, we can naturally remedy it by following the trend. The premise is to take precautions and ensure the safety of the principal. KDJ's downward diffusion is blocked at 68300, and the trend is sideways above 69000. The Bollinger Bands shrink, the upper rail pressure level focuses on 71050, and the middle rail support focuses on 69000. MACD shrinks and moves downward, and the DIF and DEA spread downward from high levels, indicating that the upper space is limited. The risk of short-term longs is greater than the return. The most stable way is to arrange short positions at high levels with a good stop loss.
Let's look at the overall market trend of the four-hour K-line. After continuous sideways repair, the K-line broke the EMA trend indicator and stood at a high level. It is currently blocked at 69,800, but the overall EMA trend does not have enough support capacity. It is expected that the high space will be limited and there will be a correction. KDJ is blocked by the pressure of the 70,000 integer mark, and the Bollinger Bands are obviously closing. The pressure of the top upper rail has fallen below 70,500 and is around 70,400. The middle rail supports 69,500, and the lower rail defends 68,800. MACD is increasing in volume and moving up. The continuous shrinking volume and increasing funds K-line has only reached the 70,000 mark. It is currently in the stage of increasing volume and increasing funds. It depends on whether the K-line can break the pressure of 70,500. If it does not break, the short trend will continue. The idea is to mainly go short at high levels, and consider the layout after encountering support below.
Short-term thinking reference: 70,000 mark short holding
The idea is to arrange short positions in the range of 69800 to 70100, with a stop loss of 70500 and an exit reference of 69500 to 69000.
The range below 69300 to 69500 is not broken, and the target is to take profits near the 70000 mark, with a stop loss of 69000. (If it falls below 69000, short positions will be left and opportunities will be waiting)
Pay attention to the upper market around 70400 to 70500. After breaking through, you can follow the trend to buy more. The reference target is 71000 to 71500, and the stop loss is 400 points.
I still have to mention that the fundamental of trading is survival, followed by profit. Therefore, before each operation, think clearly whether your operation is reasonable and whether the principal is safe. You must form a set of trading ideas of your own and continuously optimize and improve them. Although the suggestions of academicians in the currency circle cannot make you rich overnight, they can always help you. Only those who survive in the currency circle for a long time and persist to the end can get the results they want. I hope you can understand. The specific operation is based on the real-time data of the market. For more information and details, please contact the author. There is a delay in the release of the article. The suggestions are for reference only and the risks are borne by yourself.
This article is exclusively contributed by the academician of the currency circle, and only represents the exclusive views of the academician. There are in-depth studies on BTC, ETH, DOGE, DOT, FIL, EOS, etc. Due to the time of article push, the above views and suggestions are not real-time, for reference only, at your own risk, please indicate the source for reprinting, and reasonably control the position when making orders, and do not operate with heavy or full positions. The academician also hopes that all investors understand that the market is always right. If you are wrong, you should summarize your own problems and don't let the profits that should have been obtained fly away. There is no need to be smarter than the market in investment. When the trend comes, respond to it and follow it; when there is no trend, observe it and stay calm. It is not too late to wait for the trend to finally become clear before taking action. Tomorrow's success comes from today's choice. God rewards diligence, earth rewards kindness, humanity rewards sincerity, business rewards trust, industry rewards excellence, and art rewards heart. Gains and losses are inadvertent. Develop the habit of strictly taking stop loss and stop profit for each order. The academician of the currency circle wishes you a happy investment!
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