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

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

Cryptocurrency Academician: May 3, 2024 Bitcoin (BTC) latest market analysis reference:

First, let's review. I mentioned yesterday that with continuous liquidation, the downside space is limited, and it is expected that there will be no new lows. Therefore, the short-term strategy is to position long near 56850, and the target was not expected to break 59000. Originally, the trend of the market tended to consolidate around 58300, and the short-term trend point would only challenge the 60000 mark after breaking through the 58300 to 58500 range. According to this trend, it seems that 60,000 will return quickly.

As of the time of writing, the current price of Bitcoin is 58850. The short-term target is to aim for 59500. The candlesticks have been situated above the EMA trend indicator 120 for two consecutive days, and the market has been increasing at this position to prevent the continuation of the bearish trend. This is a good signal, but the trend has not turned bullish yet. It is still in consolidation. KDJ was resisted after reaching 56500 and started to pull back. The pullback point is between 61500 and 61300. I mentioned the resistance level at 58300 to 58500 yesterday. If it is not broken, it is bearish; if it is broken, it is bullish. This strategy is still valid today. The MACD volume has decreased, but the DIF and DEA have widened the distance. In addition, the daily candlestick has not stabilized after breaking through the lower Bollinger Band line. It is expected to retest the support level within the day.

On the four-hour candlestick chart, the short-term bullish trend is still strong in the market, but it has encountered effective resistance in the range of 59300 to 59600. There is a possibility of challenging 60,000 within the day. After all, the candlesticks and EMA trend indicators have started to become tense. The EMA15 is conveniently located at 59200. After KDJ opened upwards and broke the 58500 resistance, along with the MACD volume increasing, the DIF and DEA formed a golden cross and the short-term bullish trend started after breaking 58500. The upper target has not been reached yet. The pressure level at 59550 in the Bollinger Band has not been broken for four consecutive times, indicating that the pressure level is effective. If it is not broken, one can start to position short. The trend is mainly short on the high side, so caution is needed for long positions.

Specific operational recommendations are as follows:

For short positions, the first entry point is 59400 short, the second entry point is to add short positions near 60200, stop loss is around 60700, and the exit points are around 58800 and 58300. After breaking through, it can continue to target around 57500. If it does not break 58300, the short position can be profitable.

For long positions, the first entry point is 58800, the second entry point is to add long positions near 58300, stop loss is not held if it falls below 58000, and the exit points are in the range of 59600 and 60500. The key focus is around 61500 for the trend conversion point. Operation can be freely managed without being too restricted.

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. Please bear the risks.

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 trades.

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

The fourth principle is to protect the principal first 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 point, do not open a position until a breakthrough occurs, do not open a position until a signal is found, do not open a position until a stop loss point is found, do not open a position if the stop loss point is too large, do not open a position if it is not a key point. You can take profit manually, but be sure to set a good stop loss.

This article is exclusively provided by the Cryptocurrency Academician and represents the Academician's exclusive viewpoint. The author has conducted in-depth research on BTC, ETH, DOGE, DOT, FIL, EOS, etc. Due to the timing of the article's release, the above viewpoints 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 all investors understand that the market is always right. If you make a mistake, you should summarize where your own problems lie 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 is 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 both in the blink of an eye. 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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