The essence of trading is survival, followed by 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 sustain your presence. Only those who 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 5, 2024 Bitcoin (BTC) Latest Market Analysis

The current price of Bitcoin is 67,700. It is now 9:30 AM Beijing time. The bearish trend continues. The entry point from yesterday has not been reached. Those who have not entered can continue to observe. Those who entered at high levels should not rush to exit, nor should they aim to take profits at the lowest point. Taking profits at the pullback point is already quite good. Currently, most students have short positions at 73,000, 72,000, and 71,500. Pay close attention to the large-scale neckline area between 66,000 and 66,500, which is a vacuum zone. If this position holds, you can take all profits; if it breaks, you can take some profits and hold the rest.

Looking at the market, capital has released various negative news before the election, all waiting for the shoe to drop. The daily K-line has shown a clear head and shoulders pattern. Currently, it is standing above the EMA30 support at 67,200. The highest point of yesterday's daily K-line was 69,500, and the lowest was 66,835, with a false break of the EMA30 once. Although it is currently holding at the support point, remember that a support level that is held for too long will eventually break. The MACD is shrinking downwards, with DIF and DEA expanding downwards at a high level. The Bollinger Bands are contracting, and the K-line has broken below the middle track at 68,650, turning support into resistance. The lower support point is around 65,400. The stronger the bearish trend, the more cautious we should be with our shorts; as soon as a rebound occurs, we should choose to exit.

The four-hour K-line has formed a descending channel, and the EMA trend indicator has begun to expand downwards. The EMA trend indicator has shown a double death cross trend, indicating that the probability of the market testing the previous low again has increased. The MACD's bottom divergence trend continues, with DIF and DEA expanding below the zero axis. The Bollinger Bands have stopped contracting and are moving downwards. The K-line has also reached the lower support at 67,500, and the KDJ is expanding downwards. The overall trend remains bearish, focusing on the large support point at 65,500.

Intra-day reference: The market is never 100% certain, so always set stop losses. Safety first; small losses with big gains are the goal.

For the upper range of 68,500 to 69,000, short positions with a stop loss at 69,500 and a target of 67,500 to 67,000. If it breaks, look at 66,500.

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

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!

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。