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 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 2024.10.29

The current price of Bitcoin is 69,500. It is now 4 AM Beijing time, and monitoring the market has reached the late night again. The short position trial failed and was once again stopped out. The era of AI-controlled trading is indeed tragic. The daily K-line reached a high of 69,900 and a low of 67,600. The bearish trend was reversed by a large bullish candle. The EMA15 fast line indicator reached 67,000, and the overall EMA trend indicator opened up again, indicating that the bullish momentum is still strong.

The technical indicator MACD showed a decrease in volume twice before reversing to an increase in volume. As long as the pullback does not break 68,500, the upward movement will continue. The DIF and DEA golden cross will also take shape. There is a clear alternating indicator of bullish and bearish trends here. The Bollinger Bands are expanding upwards, with the upper band raised to 71,600, and the middle band support at 66,300. The KDJ golden cross has also formed.

The four-hour K-line has currently entered the overbought area. All EMA trend indicators are pointing upwards, and MACD is continuously increasing in volume and expanding upwards. The DIF and DEA are also expanding upwards, and the bullish energy indicator has not yet ended. The Bollinger Bands have broken, with the K-line breaking the upper band pressure at 69,400. The TD indicator is in the overbought area but has not yet entered extreme overbought territory. Since I have been stopped out, I will wait for the opportunity to continue testing short positions at high levels, while paying attention to the support at 68,500 to make a decision.

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 positions from 70,500 to 71,000, with a stop-loss at 71,500 to 72,000, and a stop-loss of 500 points. The target is 70,000 to 69,000, with a break point at 68,500.

For the lower range, long positions from 68,000 to 68,500, with a stop-loss of 500 points. The target is 69,500 to 70,000, with a break point at 70,500.

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 to be borne by yourself.

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 are not real-time and are for reference only; risks are to be borne by yourself. 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 and follow 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!

Warm reminder: The above content is solely created by the author of the public account. The advertisements at the end of the article and in the comments section are unrelated to the author. Please discern carefully. Thank you for reading.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。