The essence of trading is survival, followed by profit. Therefore, before each operation, think carefully about whether your actions are reasonable and whether your principal is safe. You need to develop your own trading mindset, continuously optimize and improve it. The advice of the cryptocurrency academician may not make you rich overnight, but it can ensure that you always have support. Only those who survive in the cryptocurrency circle for the long term and persist until the end can achieve the results they desire. I hope you can understand.

I am a warrior who has always been protecting the "leeks" in the cryptocurrency circle. I wish my fans to achieve financial freedom in 2024. Let's work together!

Cryptocurrency Academician: Bitcoin (BTC) Latest Market Analysis Reference for July 7, 2024

The overall trend is bearish, so I have been waiting for the key support level to layout and secure the principal before operating. The daily K-line shows a reversal trend, but the EMA trend indicator still shows a large bearish state with alternating downward mesh. Therefore, from the perspective of the major trend, the retracement is still bearish as long as it does not exceed 60,000. Will the retracement reach the short position at 60,000 as expected? We can only wait. The MACD volume shrinks and rises, DIF and DEA diverge and spread downward, KDJ rises and converges, and the Bollinger Band remains downward. After the daily K-line falls below the lower track, it returns to the lower track balance point at 56,600.

The four-hour K-line has returned to the EMA trend indicator and started to challenge the EMA30 pressure level at 58,300. This position can be tried for a short position, with a stop loss of 400 points and a target near the previous low of 53,500. The MACD volume increases and rises, DIF and DEA spread upward from the low position, KDJ is blocked at 58,300 and falls back, and the Bollinger Band balances at 57,500. The upper track focuses on the 60,500 pressure level, and the lower track support refers to 54,300. The overall trend is still bearish, so the main focus is on the short position.

Short-term reference:

Short at 58,300 to 58,500, defend at 60,300 to 60,500 and add to the short position, stop loss at 60,800, exit target refers to 57,500 to 57,000, and the second target refers to 56,000 to 55,500. If broken, look at 54,000 to 54,300.

Long at 52,500 to 53,000, defend at 50,500 to 51,000 and add to the long position, stop loss at the 50,000 level, target at 64,500 to 55,000, the second target at 56,500 to 57,000, and if broken, look at 58,500 to 59,000.

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 responsibly.

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 article's publication time and are for reference only. Please bear the risks responsibly. Reprinting requires proper attribution. 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 are wrong, 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's never too late to act after the trend becomes clear. Tomorrow's success comes from today's choices. The way of heaven rewards hard work, the way of earth rewards kindness, the way of people rewards sincerity, the way of business rewards trust, the way of industry rewards excellence, and the way of 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 experience!

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