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Old Yang from the cryptocurrency world: Bitcoin market analysis and reference for December 3, 2024
The daily chart for Bitcoin shows a highest price of 97300 and a lowest price of 94400, accurately retracing to the support of the EMA12 trend line. Unlike last week, where the EMA12 support was at 95400, this week it has risen to 94500, presenting an entry opportunity. The current trend indicator remains bullish, although the MACD is shrinking downward and showing signs of a top divergence. The DIF and DEA are extending downward from a high position, and the Bollinger Bands are continuously contracting. The upper pressure point is at 100800, with the middle support around 94100, and the KDJ is showing a contraction. Given that the trend appears to be probing a bottom that has not yet ended, it is essential to set up defenses and stop-loss levels to cope with market uncertainties, seizing potential opportunities while managing risks.
The four-hour chart shows a long bearish candle. Previously, the bullish rise to 97000 was unsuccessful, falling back to 94400. The key now is the EMA90 trend line at 94100. If it breaks, the 90000 level is extremely important. The MACD is shrinking downward, and the DIF and DEA are approaching the 0 axis. The lower Bollinger Band at 95400 has been lost, and the K line has now returned to the Bollinger channel. Focus on whether 97000 can break; if not, partially take profits on long positions. If it breaks, continue to hold. Operate according to the trend, with a focus on long positions and a supplementary short.
Key points of short-term trading strategy: Market conditions are unpredictable, and there is no absolute certainty. Therefore, it is essential to set stop-loss levels and prioritize the safety of funds. This is the core pursuit and goal of short-term trading, to exchange a small stop-loss cost for significant profit opportunities.
Short-term strategy:
Buy at 94000 to 95000, add to position at 93000, stop loss at 500 points, target 96500 to 97000
Sell short at 96500 to 97500, add to position at 98500, stop loss at 500 points, target 95000 to 94000
Disclaimer: The above analysis only represents the author's personal opinion and does not constitute specific operational advice. Any actions taken based on this are at your own risk. Investment carries risks, and caution is required when entering the market.
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