The essence of trading is survival, followed by profit. Therefore, before each operation, think carefully about whether your actions are reasonable and if 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 this.

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: December 6, 2024 Bitcoin (BTC) Latest Market Analysis

The current price of Bitcoin is 99,500. It is now 3:50 AM Beijing time. Is everyone enjoying their meal? Holding from 94,000 to the resistance level of 103,000, a profit-taking of 9,000 points has occurred. It is not yet the time to buy the dip for a simple reason: the main force has eaten too much and needs to digest. At this moment, while writing this article, a significant drop has occurred, which is a typical profit-taking scenario causing a double kill for both bulls and bears, with the daily K-line showing an upward spike.

Looking at the order book, the daily K-line reached a maximum of 104,100, refreshing the historical record, and a minimum of 97,890. Before publication, it has already dropped to 99,500 and continues to adjust downward to digest the inflation caused by previous movements. The EMA15 trend support point has stretched to 95,500, and the overall trend indicator remains bullish. A pullback to key support can allow for re-entry. The MACD top divergence continues, with DIF and DEA expanding downward from a high position while the K-line attempts to reach a peak. The Bollinger Bands are contracting at a high level, and the K-line has broken the upper track at 101,100, now returning to the channel. Pay attention to the middle Bollinger Band support at 95,300; if it does not break during the pullback, you can re-enter.

On the four-hour K-line, focus on the support point EMA30 at 97,800. The MACD volume has decreased, with DIF and DEA expanding downward from a high position. The short-term trend is clearly bearish, but the larger bullish trend remains unchanged. If you short, remember to set a stop loss. The target reference is the EMA30 trend support point at 98,000. The upper Bollinger Band pressure level is at 102,700, and the middle track support reference is at 97,600. The KDJ is expanding downward, indicating a trend pullback as the main force reverses to pick up. Are you brave enough to get on board?

Short-term strategy reference: The market is never 100% certain, so always set a stop loss. Safety first; small losses with big gains are the goal.

At this time, without key support and resistance appearing, hold onto your chips and survive first. The bulls are clearly taking profits. Just in time for the weekend, everyone can take a two-day break and enjoy the show.

Focus on key support from 95,500 to 95,000 for long positions, defending at 94,500, with a stop loss of 500 points. The target is 96,000 to 97,000, and if it breaks, look at 98,000.

Focus on the previous high from 103,000 to 103,500 for short positions, defending at 104,000, with a stop loss of 500 points. The target is 1,000 to 2,000 points.

Specific operations should be based on real-time data from the order book. 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 and follow 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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