The essence of trading is survival, followed by profit. Therefore, before each operation, think carefully about whether your actions are reasonable and whether your principal is safe. You need to develop your own trading mindset, continuously optimize and improve it. The advice of the cryptocurrency academician may not make you rich overnight, but it can ensure that you always have support. Only those who survive in the cryptocurrency circle for the long term and persist until the end can achieve the results they desire. I hope you can understand.

I am a warrior who has always been protecting the "leeks" in the cryptocurrency circle. I wish my fans to achieve financial freedom in 2024. Let's work hard together!

Cryptocurrency Academician: Bitcoin (BTC) Latest Market Analysis Reference for July 9, 2024

First, let's review the train of thought provided in yesterday's article. The price rose to over 55,000 and reached 57,500, gaining a space of 2,500 points. As of the time of writing, the current price of Bitcoin is around 55,800, with the daily K-line reaching a high of around 58,200 and a low of around 54,200. The EMA trend is still downward and has not changed. Yesterday, the EMA15 fast line pressure level was still at 60,400, but today it has fallen below the 60,000 mark, reaching 59,700. The top pressure level has changed, and the entry point can be adjusted accordingly. The MACD volume has decreased, the KDJ is also trending downward, and the Bollinger Bands are continuing to open up. The daily K-line has once again fallen below the lower support level of 55,300. Although it has returned to within the Bollinger Bands channel, the possibility of back and forth fluctuations cannot be ruled out.

The four-hour K-line is testing the EMA trend indicator pressure level back and forth, breaking through the EMA30 once, and paying attention to the next breakthrough at 57,400. The reference EMA60 pressure point is at 58,800. The MACD volume has decreased, the DFI and DEA are facing resistance in their upward spread, the KDJ is forming a bearish trend with a funnel-shaped contraction, and the Bollinger Bands are tightening. It is expected that there will be changes in the market in the coming days. The current K-line is above the lower Bollinger Band support level of 55,000, and the upper pressure point has reached 58,300. Both the pressure and support levels are contracting, and the overall trend has not changed. Therefore, while shorting, be sure to defend well and set a good stop loss to ensure the safety of your principal.

Short-term reference:

Short at 58,500 to 58,700, defend at 59,600 to 59,900, add to the short position, stop loss at 60,300, and the exit target is around 57,500 to 57,000. If the position is broken, consider taking profit at 56,000 to 55,000.

Long at 55,000 to 54,800, defend at 53,500 to 53,700, add to the long position, stop loss at 53,000, and the exit target is around 56,500 to 56,000. If the position is broken, consider taking profit at 57,000 to 57,500.

Specific operations should be based on real-time market data. For more information, please consult the author. The publication of this article is delayed, and it is recommended for reference only. All risks are assumed by the reader.

This article is exclusively provided by the Cryptocurrency Academician and represents the academician's exclusive viewpoint. The viewpoints and suggestions regarding BTC, ETH, DOGE, DOT, FIL, EOS, etc., are not real-time due to the timing of the article's release and are for reference only. All risks are assumed by the reader. Reprinting should indicate the source. Reasonably control your positions when trading, and avoid heavy or full positions. The academician also hopes that all investors understand that the market is always right. If you are wrong, you should reflect on your own problems and not let the potential profits slip away. There is no need to be smarter than the market in investing. When the trend comes, follow it; when there is no trend, observe and be patient. It is not too late to act after waiting for the trend to become clear. Tomorrow's success comes from today's choices. The heavens reward diligence, the earth rewards kindness, people reward sincerity, business rewards trust, industry rewards precision, and art rewards heart. Gains and losses are both incidental. Develop the habit of strictly setting stop-loss and take-profit for each trade. The Cryptocurrency Academician wishes you a pleasant investment experience!

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