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 crypto circle academicians may not make you rich overnight, they can help you persist. Only those who survive in the crypto 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 crypto circle, always protecting the retail investors. I wish my followers financial freedom in 2024. Let's work hard together!

Crypto Circle Academician: Latest Bitcoin (BTC) Market Analysis on October 21, 2024

The current price of Bitcoin is 69,200. It is now 10 AM Beijing time. After the weekly close, a large bullish candle appeared. The overall bullish trend looks quite intimidating. After the weekly EMA15 trend support point at 63,500 stabilized, it directly stretched and broke 66,000. Originally, after observing the trend, it was highly likely that the weekly close would be around 66,000, but this time it closed above 69,000. Therefore, we find the golden ratio support at 66,500 from the highest to the lowest point of last week, serving as the point of trend exchange between bulls and bears.

In the daily K-line, the highest stretch in the morning broke 69,500. Close your short positions and do not hold them any longer. Wait for the next opportunity to start testing positions again. The two positions should not be too close together; they should be separated. Currently, the EMA trend indicator is expanding upwards in an alternating pattern, and the bulls are starting to stretch. The EMA15 trend line support point has already passed 66,000, and it is expected to stretch further. The MACD has begun to show a top divergence trend, with the DIF and DEA expanding upwards, indicating that the energy indicator is starting to spread. The Bollinger Bands are opening upwards, with the upper resistance level at 70,500. The KDJ is contracting inward. This slow rising market does not rule out the possibility of a sharp drop, so be careful not to get liquidated and ensure proper precautions are in place.

Looking at the four-hour K-line, after breaking 69,500, it has returned down to the 69,000 level. The EMA15 trend support point at 68,400 serves as a short-term reference. The MACD shows a top divergence with reduced volume, and the DIF and DEA are contracting at high levels. The market's fear and greed emotions are still increasing. The upper Bollinger Band at 69,150 has been lost, and the K-line is expected to return to the Bollinger channel. Pay attention to the middle track support at 68,300, which can be used as a vehicle for a short-term long position. After encountering strong resistance, consider going short.

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

Daily strategy:

Buy between 68,200 and 68,400, targeting 69,000 to 69,500. If it breaks, look at 70,000, with a stop-loss of 300 points.

Sell between 70,000 and 70,500, targeting 69,500 to 69,000. If it breaks, look at 68,500, with a stop-loss of 300 points.

Trend resistance level layout reference: Sell between 70,500 and 71,000, with a defense at 61,500 to add to the short position, and a stop-loss of 500 points, targeting 68,500 to 68,000. If it breaks, look at 66,000 to 66,500.

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, and the suggestions are for reference only; risks are borne by the reader.

This article is exclusively contributed by the Crypto Circle Academician and represents the unique views of the Academician. 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 Academician 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 Crypto Circle Academician wishes you happy investing!

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