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 stay in the game. Only those who can survive in the crypto space for the long term and persist 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: November 2, 2024 Bitcoin (BTC) Latest Market Analysis

The current price of Bitcoin is 69,300. It is now 4 AM Beijing time. The market is as expected. Before the non-farm payroll data was released last night, many fans asked whether to exit their short positions around 73,000. Those who had not entered the market were also asking how the market would move. Even after the favorable non-farm data was released, I continued to remind everyone not to chase the market upwards but to use the positive non-farm data to position themselves at the upper resistance levels. Those who had not entered the market also got in at 71,500. The rest is about trading time for space; only by enduring loneliness can one enjoy prosperity.

The daily K-line reached a high of 71,630 and a low of 68,820, while the EMA15 trend fast line support is still at 68,700, and the EMA30 support is at 66,900. The MACD shows a top divergence trend, with a large and a small volume appearing. If those who are long see the DIF and DEA forming a death cross at a high position, they should exit; they cannot hold on. Those who are short can continue to hold, as the overall trend shows a downward volume trend. The Bollinger Bands are contracting for both long and short positions. The upper resistance level is at 72,300, the middle support level to watch is 68,150, and the lower support level is 64,000. The KDJ has formed a death cross; the bears have not finished yet, so do not rush to exit.

The four-hour K-line is continuously impacting the EMA support points downwards. From the trend perspective, a downward channel has formed. The EMA90 short-term support is at 68,600, which is not a point to enter long positions; it is mainly for reference. The EMA120 is the key support at 67,900. The MACD is shrinking with continuous accumulation and expanding downwards. The Bollinger Bands have opened up, and the fast line has dropped to above the lower support of 68,500. The overall trend will show a real downward trend in the short term. Those who did not enter at 71,500 can wait for the next opportunity to enter. Continue to focus on shorting at high levels; aggressive traders can take short positions at support points and take profits when they see fit.

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.

First tier short at 73,000, hold. Second tier short at 71,500, hold. Target is 68,000 to 68,500; if broken, look at 66,500 to 67,000. Pay attention to the neck line at 71,000; if it does not break, hold. Never think about taking profits at the lowest point; only take profits at retracement points.

Short at 70,500 to 71,000, stop-loss 500 points, target 69,000 to 68,500; if broken, look at 68,000.

Long at 68,000 to 67,500, defend at 66,500 to add to long positions, stop-loss 500 points, target 69,000 to 70,000; if broken, look 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; 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 are not real-time and are for reference only. Risks are borne by the reader. Please indicate the source when reprinting. Manage your positions reasonably; do not operate with heavy or full positions. The Academician also hopes that all investors understand that the market is always right. If you are wrong, you should summarize 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 in investing. 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 Crypto Circle Academician wishes you happy investing!

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