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Currency Circle Academician: May 4, 2024 Bitcoin (BTC) latest market analysis reference:

Let's review first. In yesterday's article, it was mentioned that there was a possibility of a pullback in Bitcoin breaking through the 60,000 mark, but it was not expected to break through the pressure and hit 62,200. After the news came out at 8:30 in the evening, the price of Bitcoin stretched from 59,200 to 62,200, a fluctuation of 3,000 points. We took the opportunity to short in the range of 61,500 to 62,000, with the target set around 60,500 and 59,500. We are currently holding, and if it breaks through 62,500, we will exit with a small loss. If it doesn't break, we will hold onto the profit.

Looking at today's market, as of the time of writing, the current price of Bitcoin is around 61,800. The daily K-line and the predicted KDJ formed a golden cross after breaking through 61,500, and the EMA trend indicator turned the 60,800 resistance into support. The upper resistance has come to around 62,500. The MACD volume has started to increase, and the DIF and DEA, which were previously diverging, have started to converge. The overall trend of the Bollinger Bands is still bearish. The K-line stood at the lower support of 59,100 and stretched upwards. Pay attention to the 63,400 pressure level in the daily K-line Bollinger Bands. The trend gives a sense of unreality, but the strategy remains the same: just do what needs to be done at any position and don't be blinded by the false appearance of the market.

The four-hour K-line broke through the EMA trend indicators at 60,300 and 61,650, and the next upper pressure area is worth watching around 62,500. The short-term strategy remains the same, with a focus on short positions at high levels and long positions as a supplement. KDJ's upward expansion is being constrained, and the MACD volume continues to increase. The DIF and DEA are diverging upwards from a low position, and the K-line has also reached the 61,950 pressure level of the Bollinger Bands. The overall trend indicates effective pressure around 62,000. The strategy suggests focusing on short positions at high levels and long positions as a supplement, following the usual operational thinking.

Specific operational suggestions are as follows:

Short: First entry points at 61,500 and 62,000, second entry points for adding short positions at 63,000 to 63,500, stop loss around 64,000, first exit point around 60,500, second exit point in the range of 59,500 to 59,000.

Long: First entry point at 58,800, second entry point for adding long positions at 58,300, stop loss at 58,000, if it falls below, do not hold, and do not hold if it doesn't break. Exit points are around 59,600 and 60,500. Operationally, it is free to take profits without being too restricted.

The specific operational thinking is based on market data, and for more information, please consult the author. The article is published with a delay, and it is recommended for reference only. Please bear the risks.

Stick to five principles in contract trading: limit to one to three orders per day, never overtrade, learn to wait for opportunities in an empty position, prioritize capital preservation before seeking profits, learn to review and summarize patterns.

In simpler terms: do not open a position until the price reaches a certain level, do not open a position until a breakthrough occurs, 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, do not open a position if it is not a key point. You can take profits manually, but make sure to set a stop-loss.

This article is exclusively provided by the Currency Circle Academician and represents the Academician's exclusive viewpoint. With in-depth research on BTC, ETH, DOGE, DOT, FIL, EOS, and others, the above opinions and suggestions are not real-time due to the timing of the article's release, and are for reference only. Please bear the risks and indicate the source when reposting. Reasonably control your position 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 profit 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 wait. It's not too late to act after the trend becomes clear. Today's success comes from today's choices. The universe rewards hard work, the 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 Currency Circle Academician wishes you a pleasant investment!

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