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 stay in the game. 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.

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 10, 2024 Bitcoin (BTC) Latest Market Analysis

The current price of Bitcoin is 97,500. It is now 3:20 AM Beijing time. The weekly opening was 101,110, and it has been declining, with a low of 97,350. The support point for the weekly chart is at 97,150, but the daily K-line is not present. The entry point I provided for going long has not been reached. Before the train we are waiting for arrives, just wait at the station; do not get on the train randomly.

The daily K-line has a high of 101,215 and a low of 97,350, showing a long bearish candle that spreads downward. The EMA15 trend support point is at 96,950, and the mid-line support EMA30 is at 92,600. The bullish trend remains unchanged. The MACD is shrinking downward, with DIF and DEA spreading downward from a high position. The K-line is retracing to the middle of the Bollinger Bands around 97,000. The lower band is at 92,600. The Bollinger Bands are still contracting, and the space for downward retracement has not ended. Do not rush to get on the train; wait for further bottom exploration before entering for a more stable approach.

On the four-hour K-line, it has continuously fallen into the EMA trend indicator, breaking below the key point of EMA60 at 98,100. The next EMA90 trend support point is at 97,000, and the key level of the larger EMA120 support point is at 95,600. The MACD continues to shrink and decline, with DIF and DEA starting to hit the 0 axis. The lower Bollinger Band at 97,800 has been lost, indicating a clear short position. Aggressive traders can try shorting around 98,000, while conservative traders should wait until the bottom exploration ends before continuing to go long. After all, the overall trend remains bullish, and all retracements should still be treated as a trap for shorts.

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

For the upper range, short from 98,500 to 99,000, with a stop-loss at 99,500, risking 500 points, targeting 98,000 to 97,500, and if broken, looking at 97,000 to 96,500.

For the lower range, long from 96,000 to 95,500, with a stop-loss at 95,000, risking 500 points, targeting 97,000 to 98,000, and if broken, looking at 98,500 to 99,000.

Second entry point for going long:

From 92,500 to 92,000, with a stop-loss at 91,500, risking 500 points, targeting 3,000 to 6,000 for a free take or consult the author.

Specific operations should be based on real-time market data. For more information, you can consult the author. The publication of this article may have delays, and the suggestions are for reference only; 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 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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