The essence of trading is survival, followed by profit. Therefore, before each operation, think carefully about whether your actions are reasonable and whether your capital is safe. You need to develop a trading mindset that belongs to you, continuously optimizing and improving it. Although the suggestions from the cryptocurrency community may not make you rich overnight, they can help you persist. Only those who survive in the cryptocurrency space for the long term and stick it out until the end can achieve the results they desire. I hope you understand.

I am a warrior in the cryptocurrency community, always protecting the investors. I wish my followers financial freedom in 2024. Let's work hard together!

Cryptocurrency Community Expert: Bitcoin (BTC) Latest Market Analysis Reference on 2024.10.17

The current price of Bitcoin is 67,700. It is now 8 AM Beijing time, and the daily candlestick has just closed. We can see that the highest point of Bitcoin in the last 24 hours reached 68,425. The short position at 68,400 from yesterday's trading strategy is still valid and currently held, with a stop-loss point at 69,000. If the market breaks the previous high again, it is likely to reach 69,000, where we can continue to test short positions. The overall trend remains bullish, but it has reached a significant resistance level. It is clear that the resistance at 68,400 is effective, so the short strategy remains unchanged. As long as the previous high is broken and meets resistance, we can start to position ourselves.

Looking at the market, the current daily candlestick trend shows that after three consecutive bullish candles, today just opened. The EMA trend indicator's upward net expansion trend has not yet ended. The EMA15 fast line trend indicator has already reached 64,300 and is still stretching upward. The MACD shows a significant decrease in volume, and the DIF and DEA are expanding upward but have not completely broken the energy indicator. The upper Bollinger Band resistance at 68,100 shows strong pressure, and the KDJ is also facing resistance at the upper level. Therefore, from an overall trend perspective, we can start to position ourselves for shorts.

The four-hour candlestick has shown three consecutive bearish candles, dropping from 68,400 to around 67,000. Although it has now retraced to 67,700, the EMA net expansion has stretched the EMA15 trend line to 66,700. The next support level can be referenced at 65,500. The MACD shows a top divergence with decreasing volume, and the DIF and DEA have also started to contract. The Bollinger Band shows a clear contraction in volume, with the upper band shrinking to 68,850 and the middle band support at 66,200. The KDJ has formed a death cross, and the overbought condition has existed for a long time, requiring a healthy correction. Without a correction, there will be no effective upward stretch, so there is no need to chase highs and sell lows at this time. It would be wise to wait for high positions to continue shorting.

Short-term strategy reference: Hold the short position at 68,400. For details, refer to updates in my social media. The market is never 100% certain, so always set stop-losses. Safety first; small losses and big profits are the goal.

For the upper range of 68,000 to 68,500, short with a stop-loss at 69,000 and a target of 67,000 to 66,000. If broken, look at 65,500.

For the lower range of 65,500 to 66,600, go long with a stop-loss at 65,500 and a target of 67,000 to 68,000. If broken, look at 68,500.

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

This article is exclusively contributed by the Cryptocurrency Community Expert and represents the expert'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 you. Please indicate the source when reprinting. Manage your positions reasonably and avoid heavy or full positions. The expert 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. Hard work is rewarded, integrity is valued, and excellence is pursued. Gains and losses often occur unexpectedly. Develop the habit of strictly setting stop-losses and take-profits for each trade. The Cryptocurrency Community Expert wishes you happy investing!

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