Strength does not need to be overly demonstrated, the key is to gain more recognition from others. On the investment road, it is more important to do well on your own than to prove your strength to others. Whether it's a mule or a horse, you'll know once you take it out for a walk.
As a senior figure in the cryptocurrency circle, I have always been committed to providing helpful advice to everyone, hoping that everyone will take fewer detours and make fewer mistakes in this market. Although I am earnest, the road to investment still needs to be explored by oneself, and learning is endless. The experience gained is the real wealth!
Here, I wish my fans to achieve financial freedom in 2024. Let's cheer together!
Cryptocurrency Academician: September 7, 2024 Bitcoin (BTC) Latest Market Analysis Reference
It is now exactly 4 o'clock in the morning Beijing time, the U.S. market has just closed, and the current price of Bitcoin is 53500. Long positions can try to open a position here, because although there were two short positions at 56600 today, they all ended up at 55500. However, the long position at 55500 was stopped out, so it is still necessary to bring a stop loss. It is important to consider that if the long position at 55500 did not have a stop loss, there would have been a frightening 2200-point floating loss when it hit a low of 53300. Therefore, it is essential to develop the habit. You can forgo taking profit, but you must not hesitate to set a stop loss.
It is still necessary to try opening a long position, let's look at the market. Currently, the daily K-line has reached the tip of the bat's wing. It is not ruled out that there will be a situation similar to August 5th, testing the support of 50,000. However, it is still necessary to try opening a long position. It's okay to make mistakes, because the bearish sentiment is too strong at the moment. The EMA trend indicators are all spreading downward, and the MACD technical indicator shows a decrease in volume and strong selling pressure. The Bollinger Bands have broken through the lower limit at 54300, and the KDJ has also changed from a golden cross to a downward spread. The situation is indeed not optimistic.
The ultra-short-term trend indicator has already reached the envy oversold zone. Because I mentioned earlier that 64000 is the next point to try opening a position, but in the end, I chose to wait for an opportunity in the rapid decline. After the U.S. market closes, there is a high probability that there will be a rebound in the market, so long positions should start trying to open a position, because the 15-minute and half-hour charts have already shown a bullish trend, and the one-hour chart has also started to rebound. Therefore, in the short term, bulls can focus on the 54500 resistance level and the 55500 position.
Short-term strategy reference: Since the market is not foolproof, it is essential to set a stop loss for safety. Small losses are acceptable in pursuit of big gains.
Short: 55500 to 55700, target 55000 to 54500, break to see 54000, stop loss at 56000
Long: 53200 to 53500, target 54000 to 54500, break to see 55500, stop loss at 52900
Long: 51500 to 52000, target 54500 to 55500, break to see 56000, stop loss at 500 points
Specific operations should be based on real-time market data. For more information, please consult the author. The article is published with a delay and is recommended for reference only. All risks are assumed by the reader.
This article is exclusively provided by the Cryptocurrency Academician and represents the exclusive views of the academician. In-depth research on BTC, ETH, DOGE, DOT, FIL, EOS, etc. Due to the timing of the article's release, the above views and suggestions are not real-time 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 make a mistake, you should reflect on your own problems and not let the potential profit slip away. There is no need to be smarter than the market in investment. When the trend comes, follow it; when there is no trend, observe and wait. It is not too late to act after the trend becomes clear. Tomorrow's success comes from today's choices. Heaven rewards hard work, earth rewards kindness, people reward sincerity, business rewards trust, industry rewards precision, and art rewards heart. Gains and losses are all in the blink of an eye. Develop the strict habit of setting stop loss and take profit for each trade. The Cryptocurrency Academician wishes you a pleasant investment journey!
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