The essence of trading is survival, and only then comes 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: Bitcoin (BTC) Latest Market Analysis on 2024.10.24

The current price of Bitcoin is 65,800. It is now 2:40 AM Beijing time, and the daily K-line has started to form a range, moving in a one-sided trend, with a high of 67,500 and a low of 65,260. Yesterday, I provided two strategies: look for 67,000 above 66,000, and if it breaks down, target 65,000. Both directions were correct and reached their predetermined targets. The only regret is that the point for shorting at the high did not materialize, missing the opportunity to enter, which led to not capturing this wave of shorts. One misstep leads to another, and in the end, I could only choose to stay out and observe. However, one thing is clear: our overall strategy has not been wrong. The bearish outlook at the major trend resistance level remains valid up to now.

The daily K-line has broken below the EMA15 trend support point of 66,100. The next support point to watch is the EMA30 trend line at 64,600. The MACD volume is decreasing, and the DIF and DEA are contracting downwards at a high level, showing signs of forming a death cross. The Bollinger Bands support to watch is at 64,800. The KDJ has formed a downward death cross and is beginning to expand sharply, continuing the bearish trend. The strategy of continuing to look for shorts remains unchanged, but remember those six words when entering: do not trade against the trend. If you cannot identify the pressure level, do not choose to enter for now. Safety first, be patient and wait for opportunities.

The four-hour K-line has entered a clear downward channel. The fast line has continuously dropped from the high of the EMA trend line to the EMA120 support point of 65,500. Now we need to see if this support level is effective and whether it can prevent the K-line from further decline. After the MACD volume increases, the DIF and DEA have broken below the zero axis, and the Bollinger Bands are also opening downwards. The K-line has broken below the lower Bollinger Band at 66,600. The KDJ is trying to prevent the K-line from further decline, indicating that there is strong support at 65,500 in the short term, and it is unlikely to drop further. There is a probability of a pullback, and when it retraces to the pressure level, it will be a good opportunity for us to short. For now, we will wait for the best entry point to appear before entering. The strategy remains to short at the pressure level and to go long based on real-time market data, confirming effective support before making a decision.

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.

Shorts from 66,500 to 67,000, with a stop-loss at 67,500 for additional shorts, stop-loss of 500 points, target at 66,000 to 65,500, and if broken, target 65,000.

Longs from 65,000 to 65,300, with a stop-loss at 64,500 for additional longs, stop-loss of 500 points, target at 66,000 to 67,000, and if broken, target 67,500.

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; 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 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 over-leveraging 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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