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: Latest Bitcoin (BTC) Market Analysis on 2024.10.31

The current price of Bitcoin is 72380. It is now 4 AM Beijing time, and the US market has just closed. The short position on Bitcoin continues to be held. Many students have adjusted their average price to the 73000 mark, while only a few remain at 72000. My thought process is simple: if Bitcoin stands above 72000, it is an opportunity to short. Do not be disturbed by others and external factors. Enter the market when the predetermined trading target is reached, and strictly execute according to the trading system. Leave the rest to time, and do not forget your original intention due to inner fear and greed.

Looking at the daily K-line, the highest reached 72800, and the lowest fell below 71500. The EMA15 trend fast line support has reached 68400 and is still stretching further. The overall EMA trend indicator is still in an upward diffusion state, and it will take time to provide new support for the K-line. The MACD is increasing in volume, with DIF and DEA expanding upward at a high level. However, the K-line has returned to the Bollinger Bands channel, breaking below the upper Bollinger Band at 72500, which has now become a resistance level. There is still a long way to the middle track support at 67450. The magical nine-turn has been triggered, and the short position can continue to be held effectively.

The four-hour K-line has retraced above the EMA15 fast line support point at 71300. There are a few flag patterns to predict. First, the four-hour K-line is currently showing an ascending triangle. Second, there is an M-top, which may further retest the lower support before continuing to rise, forming a double top. The MACD is currently decreasing in volume, and the DIF and DEA are showing a dead cross trend at a high level. After the Bollinger Bands open upward, signs of warming are beginning to appear. The middle support of the Bollinger Bands can be referenced at 70600. The thought process remains unchanged, focusing on high short positions. The essence of trading is survival, and you must make good use of the advantages of high leverage and low positions to ensure you survive before entering the market.

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

For the upper range of 73000 to 73500, short with a stop-loss at 74000 and a stop-loss of 500 points. The target is 72000 to 71000, and if broken, look at 70000.

For the lower range of 70000 to 70500, go long with a target of 71500 to 72000, and if broken, look at 72500, with a stop-loss of 300 points.

For the lower range of 70000 to 69500, if broken, go short with a target of 68500 to 68000, and if broken, look at 67500, with a stop-loss of 500 points.

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 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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