The latest analysis of Bitcoin on April 23, 2024: Professional interpretation and in-depth analysis by AICoin experts.

CN
1 year ago

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Cryptocurrency Academician: Bitcoin (BTC) Latest Market Analysis for April 23, 2024:

Yesterday's practical combat of Bitcoin, I believe everyone knows that we went long near 64500, and after reaching 66000, we went short near 66200. We stopped out at 66600 in the early hours of last night, taking a small loss and exiting a long position. The bullish trend is strong, and shorting indeed carries more risk than reward. When pulling teeth from a tiger's mouth, be sure to use a stop loss to prevent being washed out.

Without further ado, let's look at the current market situation. As of the time of writing, Bitcoin is trading near the 67000 level, close to the trend line. What's rare is that after breaking below the trend line on April 12, the candlestick has once again returned above the EMA trend indicator. The KDJ is diverging upwards, the MACD is showing decreasing volume and increasing capital, the DIF and DEA are forming a golden cross at a low level, and the Bollinger Bands are slightly rising. The idle standing Bollinger Band is at 66600. In terms of strategy, we can pay attention to a possible long position if it retraces to the middle band without breaking it, and focus on the early high point of the Bollinger Band at 69000.

The four-hour candlestick has seen four consecutive rises, breaking through the trend indicator and standing at a high level. The EMA is starting to converge, especially the EMA15 is rapidly stretching, indicating a strong bullish trend. The KDJ is diverging upwards, the MACD is showing increasing volume and capital, the DIF and DEA are starting to distance themselves above the 0 axis, and the Bollinger Bands are opening upwards. The candlestick is spreading around the upper band at 67000, indicating a fully bullish trend. Aggressive traders can go long with the trend, while conservative traders can consider going long after a pullback.

Specific operational suggestions are as follows:

With the trend: Exit points can be considered near the first resistance level around 67800 and the second resistance level around 68500.

Conservative traders can consider going long in the 66000 to 66500 range, with targets at 67500 and 68000, and a stop loss at 65000 (there won't be a significant market movement without major news, so stability is the key).

Aggressive traders can consider going short in the 68500 to 69000 range, with targets of 500 to 1000 points and a stop loss at 69500.

Specific operational strategies are mainly 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.

This article is exclusively provided by the Cryptocurrency Academician and represents the Academician's exclusive viewpoint. The viewpoints and suggestions regarding BTC, ETH, DOGE, DOT, FIL, EOS, etc., are based on in-depth research. Due to the timing of the article's release, the above viewpoints and suggestions are not real-time and are for reference only. Trade at your own risk. When reposting, please indicate the source. Manage 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 issues and not let the potential profits slip away. There's no need to be smarter than the market in investing. When there's a trend, follow it; when there's no trend, observe and be patient. It's never too late to act after the trend becomes 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 happen inadvertently. Develop the habit of strictly setting stop-loss and take-profit for each trade. The Cryptocurrency Academician wishes you a pleasant investment experience!

Friendly reminder: The content above is created by the author's public account. The advertisements at the end of the article and in the comments section are not related to the author. Please discern carefully, and thank you for reading.

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