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 to help you 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 2024.10.08

The current price of Bitcoin is 63,600, with the daily K-line reaching a high of 64,500 and a low of 62,650. It is now 2 AM Beijing time. Yesterday's article mentioned this time, directly stating that as long as the price does not break the neckline during the pullback, you can continue to hold long positions. Don’t think about taking profits at the highest point; only take profits at the pullback points. Only by developing this habit can you survive in this circle for a long time. Although we set up long positions at the 60,000 mark, there were also entries at 61,500, 62,500, and 63,000. No matter where you enter, you must rationally prepare for defense.

Looking at the market, the current daily K-line trend has broken the 63,300 resistance level and has been stretching upward after standing above the EMA15 support point of 62,550. The MACD shows a decrease in volume with a top divergence trend, and the DIF and DEA failed to break down through the 0 axis from a high position, indicating a bullish outcome. The Bollinger Bands are contracting, with the upper band focusing on 66,300, and the middle band’s resistance turning into support at 63,200. The KDJ golden cross trend is forming, so the key support point at 63,000 can be a buying opportunity, with defense in place and leaving the rest to time.

The four-hour K-line has entered an upward channel, with the EMA15 support point at 62,800. Key support can be looked at further down at 62,500 and the vacuum area below. As long as the overall trend remains unchanged, you can buy on the pullback. The MACD is showing an upward trend, and the DIF and DEA ended their polarization above the 0 axis after the market broke 63,500. The K-line consciousness is expanding upwards around the upper band of 63,750. The middle band focuses on the key resistance level of 62,500. The strategy remains to prioritize long positions on pullbacks, with shorts as a supplement.

Short-term strategy reference: The market is never 100% certain, so always set stop-losses. Safety first; small losses with big gains are the goal.

For the upper range of 65,000 to 65,500, short positions with a defense at 66,000 to 66,400 for adding to shorts, targeting 64,000 to 63,500, and if broken, looking at 63,000 to 62,500, with a stop-loss of 500 points.

For the lower range of 62,000 to 62,500, long positions with a defense at 61,200 to 61,500 for adding to longs, targeting 63,000 to 63,500, and if broken, looking at 64,000 to 64,500, with a stop-loss of 500 points.

Specific operations should be based on real-time market data. For more information, you can consult the author. 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 viewpoint. 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 viewpoints 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 summarize where the problem lies. Don’t let the profits that should be yours slip away. There is no need to be smarter than the market; when a trend comes, respond and follow 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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