As a veteran in the cryptocurrency space, I have been deeply involved in this captivating and challenging industry for many years. Having experienced the ups and downs of the crypto market and witnessed the rise and fall of countless cryptocurrencies, I have accumulated rich practical experience and unique market insights. Investing is a long-term practice, and this is especially true in the cryptocurrency space. Continuous learning and enhancing one's cognitive and judgment abilities are essential to navigate this challenging field steadily.

Old Yang from the Crypto Circle: Bitcoin Market Analysis for December 1, 2024

Bitcoin is fluctuating in the range of 98,500 to 95,000 on the daily chart. Yesterday, neither the bullish nor bearish strategies aligned with the market trend. Adhering to the principle of "better to do nothing than to do it wrong," investors are still waiting for the right opportunity. The EMA12 trend line has dropped to 94,978, MACD continues to shrink, and the DIF and DEA are diverging downwards from a high position, indicating a lack of upward momentum. The Bollinger Bands are entering a new round of contraction, signaling an impending reversal. The 100,000 mark has become a critical breakout point, with the upper band at 110,000, the middle band at 93,813 already broken, and the lower band at 86,792. A KDJ golden cross has appeared, giving a temporary advantage to the bulls; however, the market direction remains unclear, necessitating close attention to indicator changes and cautious investment decisions.

The four-hour chart for Bitcoin shows bullish signals, with a very clear target. The key support is at 96,000, where EMA26 is located. The MACD volume is gradually decreasing, and the DIF and DEA are tightening at a high level. The Bollinger Bands are also contracting, with the upper band at 98,000 and the lower band at 94,600. Current market sentiment is stable, but the main strategies are unpredictable. At this moment, risk management is particularly crucial; regardless of bullish or bearish operations, setting stop-loss orders is indispensable to prevent forced liquidation.

Short-term Strategy:

Short from 97,800 to 98,500, add to position at 99,500, stop-loss at 500 points, target at 96,000.

Long from 94,000 to 95,000, add to position at 93,000, stop-loss at 500 points, target at 96,500.

Disclaimer: The above analysis represents the author's personal views and does not constitute specific operational advice. Trading based on this analysis is at your own risk; investing involves risks, and caution is advised when entering the market.

This article is exclusively planned and published by Old Yang from the Crypto Circle. For more real-time investment strategies, spot contract trading techniques, and operational skills, you can consult me for learning and exchange. I have focused on BTC, ETH, and altcoin spot contracts for many years and hope to help you achieve remarkable results!

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