As a senior figure in the cryptocurrency circle, I have always been committed to providing helpful advice to everyone, hoping that you can take fewer detours and make fewer mistakes in this market. Although I have been earnestly advising, the path of investment still needs to be explored by oneself. Learning is endless, and the experience gained is the real wealth!

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I am a warrior striving to protect the "leeks" in the cryptocurrency circle. I wish my fans to achieve financial freedom in 2024. Let's cheer together!

Cryptocurrency Academician: May 2, 2024 Bitcoin (BTC) Latest Market Analysis Reference:

Since the article was last updated on the 27th of last week, the cryptocurrency circle has been liquidated again today. From a high of 64700, it fell to 56500, a liquidation of over 10,000 points. It should be understood the importance of setting stop-loss, especially for friends who are used to spot trading and only have a long mindset based on support levels. This mindset needs to be changed, especially for flexible and changeable contract trading. Many students who attended the week-long offline training woke up as if from a dream and gained good profits, which can be considered a good start.

Looking at today's market, as of the time of writing, the current price of Bitcoin is around 57800, which means it has fallen below the EMA trend indicator support point of 120. The support has now turned into a strong pressure, and the mindset can be changed to short on a rebound without breaking the pressure. The KDJ is opening downward, and the acceleration indicator J value has dropped below -2.47. Historically, after the value drops below zero, there will be a rebound. This can be observed. The MACD is decreasing, showing continuous consolidation and decline. The DIF and DEA waves are declining, entering a downward channel and widening the distance, indicating that the bearish trend has not yet completed. The Bollinger Bands, like a raised snake, are now lowering their heads and sticking out their tongues. This trend is commonly referred to in the industry as "liquidation, harvesting, digestion." The lower band has fallen below 60000 to 58650, and the turning points above are at 61500 and 61000, which can be observed.

The ultra-short-term trend on the four-hour chart is more intuitive. The EMA trend indicator is forming a waterfall pattern, showing intensified market panic. The EMA15 trend indicator has fallen below 60000 to 59500, and the pressure is effectively observed at 59300. If it does not break, it can continue to be laid out. After the KDJ line formed a golden cross and then pulled back down, the KDJ is contracting, and the main force is clearly selling. The MACD is decreasing, and the distance between the DIF and DEA is widening, indicating a tendency towards a rebound. In the short term, there will be a bullish rebound. The Bollinger Bands are opening up, and the three lines are lowering. The lower band support has come to 55800, and the middle band is observed at 60500 as a pressure point. The overall trend will not decline too much within the day, leaning towards consolidation.

Specific operational suggestions are as follows:

Since the turning points are at 61500 and 61000, the mindset can be used as a reference. After reaching the range, short positions can be laid out. The targets are 60000 and 59000, with a break below to 58300 and 57300. If the trend remains unchanged, short positions have a larger profit space and can be flexible. Set the stop-loss at 62000, slightly higher than the turning point, to prevent being swept and losing profits.

For ultra-short-term long positions, the first entry point can be observed near 56850, and the second entry point at 56500, with a stop-loss at 56000. The exit targets are the range of 57500 and 58300. (Conservative traders can focus on short positions at high levels.) Specific operational strategies should be based on market data. For more information, please consult the author. The article is published with a delay, and the suggestions are for reference only. Trade at your own risk.

Adhere to five principles in contract trading: limit the number of trades to one to three per day and avoid frequent operations.

The first principle is to rather miss than make a mistake.

The second principle is to never overdraw trading.

The third principle is to learn to wait for opportunities with an empty position.

The fourth principle is to protect the principal before considering profits.

The fifth principle is to learn to review and summarize patterns.

In simple terms: do not open a position until the price reaches a certain level, do not open a position until a breakthrough, do not open a position without a signal, do not open a position without finding a stop-loss point, do not open a position if the stop-loss point is too large, and do not open a position if it is not a key point.

This article is exclusively provided by the Cryptocurrency Academician and represents the Academician's exclusive viewpoint. The viewpoints and suggestions for BTC, ETH, DOGE, DOT, FIL, EOS, etc., are not real-time due to the timing of the article's release and are for reference only. Trade at your own risk. Reprinting should indicate the source. Please control your position reasonably and avoid heavy or full positions. The Academician also hopes that investors understand that the market is always right. If you make a mistake, you should reflect on your own problems and not let the potential profits slip away. There is no need to be smarter than the market in investing. When the trend comes, follow it; when there is no trend, observe and be patient. It is not too late to act after waiting for the trend to become clear. Tomorrow's success comes from today's choices. Heaven rewards diligence, earth rewards kindness, people reward sincerity, business rewards trust, industry rewards precision, and art rewards heart. Gains and losses are all in the details. Develop the habit of strictly setting stop-loss and take-profit for each trade. The Cryptocurrency Academician wishes you a pleasant investment!

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