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: November 11, 2024 Bitcoin (BTC) Latest Market Analysis

The current price of Bitcoin is 81,500, and the short position has been adjusted to 81,000. This wave has adjusted 9,000 points from 73,000. From the 6th to the 11th, I have stayed up several nights. After reaching the defensive position of 81,500 at six in the morning, the adjustment is over, and I have slept until now. This is very similar to the market in early March. Last time, it adjusted more than 13,000 points and finally captured a space of 7,000 points. This time, my body is getting weaker day by day. It’s tough, but we will get through it. Before the market breaks out, we didn’t notice it, but after it breaks out, we realize we have encountered a counter-trend position. I suggest everyone to mainly follow the trend, set stop losses, and if wrong, exit with a small loss.

Let’s look at today’s market. The current price of Bitcoin is 80,900. It is now a little past 2 PM Beijing time. The trading volume has started to decrease after hitting a historical high and failing to break through 82,000. Compared to the previous days, the trading volume has noticeably decreased. The EMA15 trend line has stretched to 74,000 and is expected to continue stretching, ultimately stabilizing around 76,000. The MACD has been continuously increasing, with DIF and DEA expanding upwards. The K-line has been spreading along the upper Bollinger Band at 80,350. It is expected to return to the Bollinger channel during the day, with KDJ contracting inward and facing resistance at 82,000.

The current ascending triangle's first target of 82,000 has been reached. The remaining task is to watch for a pullback. If the pullback does not drop below the triangle trend line and the EMA15 support point at 78,650, it is likely to return to the 80,000 range for consolidation. This is worth paying attention to. If you can’t hold, you can take profits on the short position again, which has over 2,000 points of space. The MACD shows a large and a small volume indicator. Remember a mantra: a large and a small golden cross means to run if it turns into a death cross. It’s simple and easy to understand. The upper Bollinger Band pressure level is at 81,500, and the middle band support point is at 77,700.

Layout Reference: The market is never 100%, so always set stop losses. Safety first; small losses and big profits are the goal.

Trend Layout: The average price is currently at 81,000, holding short. After a clear pressure level appears above 82,000, continue to adjust positions. As per the old rule, return to the average price, sell the added portion, and hold the rest.

Intraday Thoughts

Short from 81,500 to 82,000, with a stop loss of 500 points, targeting 80,500 to 80,000, and if broken, look at 79,500.

Long from 78,500 to 79,000, with a stop loss of 500 points, targeting 80,000 to 80,500, and if broken, look at 81,000.

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. Don’t let the profits that should be yours slip away. There is no need to be smarter than the market. When a trend comes, respond and follow it; when there is no trend, observe and remain calm. It’s 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 happen 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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