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 cryptocurrency community may not make you rich overnight, they can help you persist. Only those who survive in the cryptocurrency 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 cryptocurrency community, always protecting the retail investors. I wish my followers financial freedom in 2024. Let's work hard together!

Cryptocurrency Community Expert: November 16, 2024 Bitcoin (BTC) Latest Market Analysis

The current price of Bitcoin is 89,500. It is now 3:25 AM Beijing time. Let's review the situation. Yesterday, the market was in a consolidation phase, with the daily K-line reaching a high of 90,700 and a low of 87,000, fluctuating over 3,000 points. Compared to the previous days' fluctuations of over 5,000, this is considered a decrease in volume. The market is consolidating at a high level, forming a descending triangle pattern. If the rebound does not break the previous high, the market will continue to follow the trend of triangular contraction.

Currently, the daily K-line still shows a bullish trend. The EMA15 trend line has reached 80,700 and is still pulling up further. The K-line has not shown a deep pullback yet, with 87,000 being a clear support point. The MACD volume is decreasing, and the DIF and DEA are expanding upwards. The K-line is once again pulling back to challenge the upper Bollinger Band resistance at 92,200. The KDJ dead cross trend remains unchanged, and the market is still in the overbought zone, indicating an overall trend correction.

The four-hour K-line has continuously pulled back to the EMA15 support at 88,600. The next support point is EMA30 at 86,800. The MACD shows a top divergence with a decreasing volume rebound, and the DIF and DEA are expanding downwards and facing resistance. Pay attention to the trend resistance at 91,500 and the support point at 86,500. The Bollinger Band is contracting horizontally at a high level, with the upper band resistance at 92,100 and the lower band support at 85,800. Currently, the market is showing a clear upward trend, so you can wait for a breakthrough above the resistance at 91,500 before considering a short position. If the lower level holds at 86,000, you can also start testing long positions.

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

For the upper range of 91,500 to 92,000, go short, with a stop-loss at 92,500, risking 500 points, targeting 90,500 to 90,000, and if broken, looking at 89,500 to 88,000.

For the lower range of 86,000 to 85,500, go long, with a stop-loss at 85,000 to 84,500, risking 500 points, targeting 87,500 to 88,000, and if broken, looking at 89,000 to 90,000.

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, so the suggestions are for reference only, and risks are borne by the reader.

This article is exclusively contributed by the Cryptocurrency Community Expert and represents the expert's unique viewpoint. 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 viewpoints 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 expert 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. 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. Hard work is rewarded by heaven, goodness by earth, sincerity by humanity, trust by business, excellence by profession, and heart by art. Gains and losses often occur unexpectedly. Develop the habit of strictly setting stop-losses and take-profits for each trade. The Cryptocurrency Community Expert wishes you happy investing!

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