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 sustain your presence. Only those who survive in the crypto space for the long term and persist until the end can achieve the results they desire. I hope you understand this.

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 22, 2024

The current price of Bitcoin is 67,400. It is now 12:35 PM Beijing time. The daily candlestick yesterday had a high of 69,520 and a low of 66,840. After opening low at 8 AM today, the daily candlestick broke the previous low and fell to 66,570, which is above the golden ratio support point of 66,500 I mentioned yesterday. This point serves as a trend reversal point and is undergoing a new test. The main force's grasp of human nature is almost perfect. After the stop-loss for the short position at 69,500, they immediately began to wash out the long positions, demonstrating a perfect back-and-forth wash of both long and short positions. Before this, do not operate; in a rapidly rising or falling market, stay on the sidelines and wait for clear signals before entering.

The daily candlestick has already retraced to above the EMA15 trend support point of 66,100, which is not far off, indicating that there is still a possibility of a short-term pullback. The MACD volume is decreasing, and the DIF and DEA are contracting at high levels, with the top divergence still present. The Bollinger Bands are expanding upwards, with the upper resistance level reaching 70,500, while the middle support point remains at 64,500. The KDJ has formed a death cross, and the overall trend indicates that the bears are starting to gain strength.

The four-hour candlestick has returned to within the EMA trend indicator, standing above the EMA60 support point of 66,700. The MACD has ended the divergence trend and is beginning to decrease in volume. The DIF and DEA are starting to approach the zero axis. If the bulls cannot regain strength, causing the DIF to fall below the zero axis, a new round of competition will begin. The Bollinger Bands have shown signs of opening downwards, and the candlestick has already broken below the four-hour Bollinger Band lower limit of 67,220. The resistance point to watch is 68,200. The strategy suggests continuing to test short positions at high resistance points, but since the trend reversal point has not broken, the bullish trend still exists. Therefore, be prepared for both scenarios; as long as the key support holds, long positions can still be tested. Safety first, and be sure to take precautions.

Short-term strategy reference: The market is never 100% certain, so always set stop-losses. Safety first; the goal is to minimize losses while maximizing gains.

For the upper range of 68,000 to 68,300, short with a stop-loss of 300 points, targeting 67,500 to 67,000, with a break point at 66,500.

For the lower range of 66,000 to 66,300, long with a stop-loss of 300 points, targeting 67,000 to 67,500, with a break point at 68,000.

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 Crypto Circle Academician and represents the academicians' 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 academicians also hope 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 by heaven, goodness by earth, sincerity by humanity, trust by commerce, excellence by industry, and heart by art. 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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