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 form 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.

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Cryptocurrency Community Expert: Bitcoin (BTC) Latest Market Analysis on 2024.10.28

The current price of Bitcoin is 67,800. It is now 4 AM Beijing time. Let's review: yesterday, Bitcoin provided a short position at 68,000, with a defense at 68,500 for additional buying. Currently holding, the key point to watch is if 68,500 breaks, then you can exit. If it doesn't break, you can hold. It can be said that the key point this week is that as long as 68,500 does not break, you can start testing positions. If it breaks, look for opportunities to continue shorting and test positions, giving yourself enough chances to test positions, aiming for small losses and big gains.

Looking at the market, the daily K-line has a high of 68,000 and a low of 66,900. The EMA15 trend support point at 66,700 has been continuously broken. As the saying goes, a support level that is attacked for too long will eventually break. Overall, the daily K-line is still near a major trend resistance level, so shorting at high levels is dominant. When buying at support levels, don't be greedy for too large a range. The MACD has started to decrease in volume while the K-line is diverging upwards. The DIF and DEA have also clearly indicated a death cross trend, with a much larger proportion of shorts. The Bollinger Bands are expanding, and the K-line is continuously testing the strength of the mid-track support at 65,850. The lower track support is at 60,500, and the KDJ has started to contract. The overall trend of the daily K-line is also beginning to contract.

The four-hour K-line has entered a wedge pattern. It is crucial to watch whether it can stabilize above 68,000. Currently, the K-line has risen above the EMA trend indicator, and the MACD is also increasing in volume and expanding upwards. The DIF and DEA have entered a two-level differentiation, indicating insufficient bullish momentum. The upper track pressure level of the Bollinger Bands has reached 68,400, while the mid-track support at 67,400 is not very strong. The lower track support at 66,450 serves as a reference. The strategy is that if the short at 68,000 is effective, it can be held. If it breaks 68,500, consider whether to stop loss or adjust positions.

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.

For the upper range, short from 68,000 to 68,200, with a defense at 68,500, stop loss at 500 points, and target at 67,500 to 67,000. If it breaks, look at 66,500.

For the lower range, long from 66,000 to 66,400, with a defense at 65,500, stop loss at 500 points, and target at 67,500 to 68,000. If it breaks, look at 68,400.

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 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 the reader. 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 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 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 comes 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 Community Expert wishes you happy investing!

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