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 November 6, 2024

The current price of Bitcoin is 71,000. It is now 9:40 AM Beijing time. Yesterday, two pieces of news came out: the first is that Trump’s victory brought Bitcoin back to 70,000, and the second is that Haha's victory brought it back to 60,000. From the market's sentiment, the results are self-evident. If Haha continues to push, Bitcoin will likely return below 70,000. Currently, the market's friendly results have led to this situation. As for how long it can last, we need to view this rationally. From the overall trend of the market, Bitcoin has once again returned to a major trend resistance level, so there is no need to overthink it. As long as we enter our short hunting zone, the hunt officially begins. I won't go into detail about trial positions; let's look at the market.

Currently, the daily K-line opened at 69,370 at 8 AM and stretched to a high of 71,455. The daily K-line has already reached a high position. The EMA15 trend fast line support is at 69,000. The MACD shows a large-scale top divergence continuing, with a decrease in volume and an increase in positions. The DIF and DEA are contracting at high levels, and the upper Bollinger Band pressure has started to rise, reaching 72,300. The middle band support is at 68,950. A V-shaped transition trend is appearing in the daily K-line. The KDJ is contracting upwards, and overall it has not yet reached overbought, but it is very close. So let's wait for now; once Bitcoin breaks 72,000, we can start testing short positions.

In the four-hour K-line, the right shoulder does not yet have a clear resistance level. Standing on the EMA, the three major trends first support at 69,200 before a violent stretch. The magical nine has turned to six. For the market to clarify the resistance level, we need to wait until the evening US trading hours. The MACD continues to increase in volume, and the K-line has broken the upper Bollinger Band at 70,300. If it goes further, it will return to the Bollinger channel. Overall, the major pressure level is confirmed, and for the minor levels, we only consider one thing: to layout shorts at the resistance level, while the support level is too far to consider going long for now.

Layout reference: Trend layout for high-level short hunting preparation. The market is not 100% certain, so always set stop-losses; safety first. Small losses and big gains are the goal.

Short from 72,000 to 72,500, with a stop-loss at 73,000 to 73,500 for adjusting positions. Use the advantage of high leverage and low position to continuously raise the average price. When returning to the average price, sell the part that was added. The target is to look at the range of 69,000 to 67,000. If it breaks, continue to look down for a space to capture over 5,000 points before taking profits. If you want to hold on, consult me.

Do not chase highs near historical peaks; those who are conservative can stay in cash and watch the show.

Specific operations should be based on real-time market data. For more information, please consult me. 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 academicians' unique views. 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 academicians also hope 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. 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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