Strength does not need to be overly displayed; the key is to gain recognition from more people. On the investment journey, doing well for oneself is more important than proving one's strength to others. Whether it’s a mule or a horse, you’ll know once you take it out for a walk.

As a veteran in the cryptocurrency space, I have always been committed to providing beneficial advice to everyone, hoping that you can avoid detours and mistakes in this market. Although I speak earnestly, the path of investment must still be explored by yourself; learning is endless, and the experiences gained are the true wealth!

Here, I wish my followers financial freedom in 2024. Let’s work hard together!

Cryptocurrency Scholar: Bitcoin (BTC) Latest Market Analysis on 2024.10.3

Bitcoin has just been cashed out for a while; it is now 2:50 AM Beijing time. The current price of Bitcoin is 61,000. On the first day of the holiday, I was swept out, but on the second day, I made two trades. A small-level bat pattern appeared first, so I sold at 60,800, then cashed out at 62,000, and shorted again at 62,000. I made a total of 2,400 points from both long and short positions. Details are recorded in my social media, and there are detailed points and K-line charts. Since it’s already 2 or 3 AM, I’ll edit the article and post it before sleeping. I also thank everyone for their attention and support.

Looking at the current market, the daily K-line trend is attempting to break through the EMA15 fast line resistance but has failed and retreated to the EAM trend indicator level. The overall trend is slightly bearish, with MACD volume decreasing, and DIF and DEA forming a death cross at a high level. The middle line of the Bollinger Bands at 62,500 is preventing the bulls from gaining strength, while the lower support can be referenced at 58,100. KDJ is expanding downwards without change, and the overall trend is influenced by some news, which may lead to a swinging market in the short term.

The four-hour K-line shows more obvious bearish momentum, failing to break through the alternating points of EMA15 and 120 at 62,500, and has returned above the previous low. MACD volume is decreasing, and there is a bottom divergence in DIF and DEA. The lower support of the Bollinger Bands is at 60,100, while the resistance level to watch is at 63,200. The overall trend is contracting, and I suggest a flexible approach of shorting at highs and longing at lows.

Short-term strategy reference: The market is never 100% certain, so always set stop-losses; safety first. The goal is to minimize losses and maximize gains.

For shorts, sell between 61,800 and 62,200, targeting 61,000 and 60,500. If it breaks, look at 60,000, with a stop-loss of 300 points.

For longs, buy between 58,200 and 58,500, targeting 59,000 to 59,500. If it breaks, look at 60,000, with a stop-loss of 300 points.

Specific operations should be based on real-time market data. For more information, you can consult me. There may be delays in article publication; the suggestions are for reference only, and risks are borne by the reader.

This article is exclusively contributed by the Cryptocurrency Scholar and represents the scholar's unique views. In-depth research has been conducted on BTC, ETH, DOGE, DOT, FIL, EOS, etc. Due to the timing of the article's release, the above views and suggestions may not be real-time and are for reference only. Risks are borne by the reader. Please indicate the source when reprinting. Manage your positions reasonably and avoid heavy or full positions. The scholar also hopes that all investors understand that the market is always right. If you are wrong, you should reflect on where the problem lies. Do not let the profits that should be yours slip away. There is no need to be smarter than the market; when a trend comes, respond to it; when there is no trend, observe and remain calm. It is not too late to act once the trend becomes clear. Tomorrow's success stems from today's choices. Heaven rewards diligence, the earth rewards kindness, humanity rewards sincerity, business rewards trust, industry rewards excellence, and art rewards passion. Gains and losses often occur unexpectedly. Develop the habit of strictly setting stop-losses and take-profits for each trade. The Cryptocurrency Scholar wishes you happy investing!

Warm reminder: The above content is solely created by the author of the public account. The advertisements at the end of the article and in the comments section are unrelated to the author. Please discern carefully. Thank you for reading.

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