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, and learning is endless. The experience gained is the real wealth!

Strength does not need to be overly displayed; the key is to gain more recognition from others. In the investment journey, it is more important to do well for oneself than to prove one's own strength to others. Whether it's a mule or a horse, you will know once you take it out for a walk.

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: Bitcoin (BTC) Latest Market Analysis Reference for April 17, 2024

It is now 2:20 in the morning. The most frequent entry point for Bitcoin's market yesterday was over 62500, with a stop loss at 62100. After the stop loss, I re-entered the market at 62100 and continued to go long, with a take profit at 63500. I gave up 400 points but gained 1400 points. Some fans questioned why I had to set a stop loss at 62100. This trade could still be profitable without a stop loss. Remember, the market does not always follow the trend for every trade. Sometimes it may continue to explore the bottom. That's why I have been adopting a low long strategy these days, even if the market trend is good, I have not chosen to chase shorts at high levels. The reason is simple: the risk of chasing shorts is greater than the return. Steady low long is the main strategy. The long position at 00:30 has already entered. Let's wait and see.

As of the time of writing, Bitcoin's current price is around 62600. The overall trend has been supported at the bottom. According to the usual strategy, the bottom support layout remains unchanged. The daily K-line has not closed yet and is currently below the EMA trend indicator 60. The market is expected to return to the 63500 exchange point. Short-term support is focused on 61000. KDJ is opening downward, MACD is decreasing in volume, and DI has crossed the 0 axis line, forming a divergence with DEA (sideways indicators usually absorb chips at the bottom to stop the downtrend). It can be seen that the K-line has once again fallen below the lower Bollinger Band at 62800. It has been continuously consolidating below the lower band, and this continuous downward pressure usually leads to a one-sided stretch after consolidation (the low long strategy remains unchanged).

The four-hour trend indicator EMA has alternated downward, especially the clearing trend of the network's empty position has ended yesterday. KDJ has been blocked, and the support between 61500 and 62000 is starting to converge. This bottom deviation trend of MACD will not last long. The obvious shrinkage of DIF and DEA at the low level, along with the trend of increasing volume and the narrowing of the Bollinger Bands, the K-line has been continuously standing below the lower band, and the overall kinetic energy density is getting stronger. All these signs indicate that there will be a one-sided market in the later period. Whether it is a one-sided upward or downward trend, we don't need to guess randomly. According to the usual strategy, we can continue to hold with good stop loss and low position layout.

The strategy suggests a conventional approach with low long as the main and high short as the auxiliary:

For short positions, pay attention to the entry points around 65100 and 64800, with a stop loss point at 65500.

For long positions, pay attention to the entry points around 61500 and 62000, with a stop loss point at 62100.

(For the cautious, low long is the main strategy. The upper targets are 63500 and 64500. If the low long trend remains unchanged, it can maximize profits. The risk is relatively smaller compared to chasing shorts, and it allows for free profit-taking.)

Specific operations should be based on real-time market data. For more information, please consult the author. The article is published with a delay and is recommended for reference only. Please bear the risks.

This article is exclusively provided by the Cryptocurrency Academician and represents the Academician's exclusive viewpoint. Due to the timing of the article's release, the above opinions and suggestions are not real-time and are for reference only. Please bear the risks. When reposting, please indicate the source. Please control your positions 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 investment. When the trend comes, follow it; when there is no trend, observe and be patient. It's not too late to act after waiting for the trend to become clear. Tomorrow's success comes from today's choices. Heaven rewards hard work, 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 journey!

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