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 people will take fewer detours and make fewer mistakes in this market. Although I advise earnestly, the path of 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 8, 2024 Bitcoin (BTC) Latest Market Analysis Reference

It is now 12:30 AM Beijing time, and the current price of Bitcoin is 54500. Although it has not reached the neckline, it is also the pressure point of the current short-term trend. It virtually broke 54700, with the highest daily price at 54850 and the lowest at 53700. The train of thought yesterday was to go long at 53500 when the article was published, with a target of 54500, gaining 1000 points. However, it also provided a shorting opportunity near 54500, with a stop loss at 54700, resulting in a small loss of nearly three hundred points.

Looking at the current market situation, the daily K-line has experienced a pullback over the weekend. Although the intensity is not great, the continuous support at the 0.236 Fibonacci level indicates a short-term demand for rebound. Therefore, the 0.382 resistance point is at 57000, which is also the landing point for the EMA15 fast line trend indicator. Currently, the bearish trend in the market has weakened, and the trading volume has decreased significantly over the weekend. The daily K-line has returned to stand on the lower Bollinger Band support at 53700. Whether the KDJ contraction and upward movement can form a golden cross indicator depends on whether the daily K-line can stand firm at 54000 at the close.

In the short term, the continuous stretch in the four-hour period has reached the EMA15 trend pressure point at 55000. The MACD has shown decreasing volume and increasing funds for four consecutive times. The DIF and DEA have also formed a crucial golden cross contraction indicator at the 54500 level. The middle Bollinger Band is at 55700, still more than a thousand points away, and it will start to be resisted. Whether it can break through 54500 and reach the next resistance level at 56100 remains to be verified. The train of thought is to be prepared for both long and short positions, with a focus on risk control.

Short-term strategy reference: Since the market is not guaranteed, it is essential to set a stop loss. Safety comes first, and aiming for small losses and big gains is the goal.

Short: 55500 to 55700, target 55000 to 54500, break below to 54000, stop loss at 56000

Long: 53200 to 53500, target 54000 to 54500, break above to 55500, stop loss at 52900

Long: 51500 to 52000, target 54500 to 55500, break above to 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 it is recommended for reference only. Please bear the risks responsibly.

This article is exclusively provided by the Cryptocurrency Academician and represents the exclusive views of the academician. Due to the timing of the article's release, the above views and suggestions are not real-time and are for reference only. Reprinting requires attribution. Please manage your positions reasonably and avoid heavy or full positions. The academician also hopes that investors understand that the market is always right. If you make a mistake, you should reflect on your own issues and not let the potential profits 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 waiting for the trend to become clear. Tomorrow's success comes from today's choices. The way of heaven rewards hard work, the way of earth rewards kindness, the way of people rewards sincerity, the way of business rewards trust, the way of industry rewards precision, and the way of art rewards heart. Gains and losses are all in the details. Develop the habit of strictly setting stop-loss and take-profit for each trade. The Cryptocurrency Academician wishes you a pleasant investment journey!

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