Crypto Circle Academic: The hunt for Bitcoin short positions continues at 11.9, with a trend layout focused on high-sell hunting, safety first.
The current price of Bitcoin is 76,560. It is now 8:15 AM Beijing time. Bitcoin has broken historical highs for three consecutive days, and we have adjusted our positions three times, with the final average price above 76,600. Some students, being more aggressive, have pulled their average price up to 77,000. The academic still recommends a conservative approach, as the fundamental aspect of trading is survival. We are laying out positions at high levels, but we must ensure we survive first, rather than blindly act. The hunt for short positions continues.
Let’s take a look at the daily candlestick chart. Last night, the daily candlestick reached a maximum of just below 77,200 and a minimum of 75,555. This morning, at 8 AM, the market opened high at 76,630. The market's fear and greed have reached a point, and we must maintain a rational layout. The EMA15 trend fast line is still stretching and has reached 71,830, clearly indicating that the stretch has not ended. This position is still being supported upwards. MACD has increased in volume, and DIF and DEA continue to expand upwards at high levels. The upper Bollinger band has reached 76,930, and the candlestick has returned to the channel.
The four-hour candlestick has shown an ascending triangle flag pattern. Key support to watch is at 76,000 and the EMA15 trend fast line support at 75,500. MACD has finished volume expansion at the top and is starting to contract. DIF and DEA have formed a death cross at high levels, and the Bollinger band is starting to contract. The upper resistance level has risen to 78,500, with mid-band support at 75,200. The larger trend has entered the short position hunting zone, and the strategy remains unchanged with high-level layouts.
Layout Reference: The trend layout for high-sell hunting continues. The market is not 100%, so always set stop losses. Safety first; small losses and large profits are the goal.
The average price for short hunting has reached the range of 76,500 to 77,000. Defend at 78,000 and continue to adjust positions to pull the average price down. Stop loss at 78,500, with targets looking at 75,500 to 75,000, and if broken, 73,000 to 72,000.
Ultra Short
For a long position at 76,000, defend at 75,600 for additional long positions, with a stop loss of 300 points. Target at 76,500 to 77,000, and if broken, look at 77,500.
I am a soldier in the crypto circle, always protecting the investors. I wish my fans financial freedom in 2024. Let’s work hard together!
Everyone is welcome to communicate in the comments section. The main forces have played their two trump cards, leaving a situation where it’s hard to ride the tiger. What will happen next?? Let’s chat in the comments section. I’m preparing to sleep now; when I wake up, I’ll chat more with everyone. $BTC