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 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 13, 2024 Bitcoin (BTC) Latest Market Analysis Reference

The current price of Bitcoin is near 58300. It is now half past two in the morning Beijing time. After a wave of bear traps on the daily K-line yesterday, today it has pulled back to the EMA30 resistance level at 58500. It has been testing the strength of this position, and the MACD has ended the shrinking volume and started to increase. The DIF and DEA at the low level have formed a golden cross, indicating that the bulls are clearly dominant in the market. Now it depends on whether the daily K-line can break through the Bollinger Band's middle pressure level at 58500, because the KDJ has been on an upward trend for some time. If it fails to go up, then it will oscillate in the range around 58500, as it is already the weekend.

For those who entered the market at around 56300, you can choose to take some profits near 58500, but don't rush to exit the rest. The profit from this trade has already been secured, at least twice the margin has been obtained. When to exit the rest will depend on the market conditions. The 4-hour K-line has retraced to the EMA15 and the 90 contraction point at 57300, clearly establishing the intraday support. If the support is effective, it will continue to extend. The overall trend of the EMA is showing a contraction and upward trend, with decreasing MACD volume. The DIF and DEA are showing a divergence at the top, although it has just appeared, it should still be noted.

The Bollinger Band is contracting, and the K-line is currently challenging the upper resistance level at 58650. The KDJ is also on an upward trend. Overall, the bulls have a certain advantage, but they have encountered relatively strong resistance. Whether it's on a large or small time frame, the resistance level is basically in the range of 58500. For those who have not entered the market, they can consider continuing to go long after a retracement to the support level, and at the high level, encountering strong resistance can consider opening a short position.

Short-term strategy reference: Since the market is not guaranteed, it is important to set a good stop-loss. Safety comes first, and the goal is to minimize losses and maximize gains.

Below, set a stop-loss at 300 points from 57300 to 57000, with a target of 58000 to 58500. If it breaks through, the target is 59500 to 60000.

Above, open a short position from 59500 to 59000, and defend at 60200 to 60500 to add to the short position. The target is 58500 to 58000, and if it breaks through, the target is 57500 to 57000, with a stop-loss of 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.

This article is exclusively provided by the Cryptocurrency Academician and represents the exclusive views of the academician. The views and suggestions on BTC, ETH, DOGE, DOT, FIL, EOS, etc., are based on in-depth research. Due to the timing of the article's release, the above views and suggestions are not real-time and are for reference only. Please bear the risks. Reprinting should indicate the source. Please control your positions reasonably when trading, and do not overexpose or go all in. The academician also hopes that investors understand that the market is always right. If you are wrong, you should summarize your own problems 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 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 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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