The strength does not need to be overly displayed, the key is to gain more recognition from others. On the investment road, it is more important to do well than to prove one's strength to others. Whether it's a mule or a horse, you'll know once you take it out for a walk.

I am a warrior in the cryptocurrency circle who is striving to protect the "leeks" (novice investors). I wish my fans to achieve financial freedom in 2024. Let's cheer together!

Yesterday, two consecutive short positions were closed at 64200 and took a profit at 63000, capturing a 2400-point space. How many coin friends followed suit? How to layout today? Can the trend line be broken?

Cryptocurrency Circle Academician: May 8, 2024 Bitcoin (BTC) latest market analysis reference:

First, let's review. Everyone can take a look at the train of thought given in yesterday's article. The short position was established in the 63800 to 64200 range, and finally took profit at 63000. The entry point and position-building signal clearly indicated in the chart are basically the same as the analysis. Although there was no pursuit of long positions, a short position was taken at 4 pm on May 7, and a profit of 1200 points was captured before the opening of the U.S. market at 9:30 pm. At 11:03 pm, another short position was established at 64200, and before the article was published, a profit of 1200 points was captured by taking profit at 63000 at 2:30 am on May 8. The layout was based on not breaking the high trend line. Long positions were not pursued until a clear signal appeared. Regardless of long or short positions, as long as a clear signal appears, a layout can be made.

Six principles of contract trading: Do not establish a position until the point is reached, do not establish a position until a breakthrough occurs, do not establish a position until a signal is seen, do not establish a position until a stop-loss point is found, do not establish a position if the stop-loss point is too large, do not establish a position if it is not a key point. Manual profit-taking is allowed, but the stop-loss must be set properly.

Now let's look at today's market. As of the time of publication, Bitcoin has fallen below 63000 and has broken through the EMA30 support of the trend indicator. Will the next step be to break through the downward trend line at 62500? Or will it make another attempt to break through the EMA90 trend indicator at 61000? KDJ was blocked at 64500 and began to converge downwards, MACD increased volume to prevent the K-line from declining, DIF and DEA formed a golden cross as they moved up from the lower level, and the K-line has been within the Bollinger Band at 63400 for the fifth consecutive day. It can be seen that the support near 62500 is effective. This position can be observed as a turning point in the trend. If it does not break, a long position can be established; if it breaks, a short position can be pursued in line with the trend.

The four-hour K-line provides a more intuitive view. Because the EMA trend indicator is contracting, based on historical trends, the K-line may pierce the trend indicator and retrace to the EMA60 support at 62700 at any time. Various indicators are converging in the 62500 to 62000 range, indicating a significant amount of momentum at this position. KDJ was blocked at 64500 and began to diverge downwards, MACD decreased in volume, DIF and DEA formed a death cross at the high level, and the Bollinger Band began to contract after the support at 62900 and the pressure at 64500. The suggested approach is to lay out in line with the trend.

The reference for ultra-short contract thinking is as follows:

If the 62500 to 62700 range is not broken, reverse long positions, with the exit reference at 63500 and 64500, and a stop-loss at 62000.

If the 62500 to 62300 range is broken, follow the trend and go short, with the exit reference at 61000 to 61500 and a stop-loss of 400 points.

Establish short positions in the 64500 to 65100 range, with the exit reference at 63300 and 62500, and a stop-loss at 65600. If it breaks, exit and observe.

(The horizontal support point, the downward trend line support, and the Bollinger Band and various indicators support are all in the 62500 to 62300 range, so as long as this position is not broken, the bulls are still in control. If it breaks, it will be a big short. The probability of a trend reversal is high. Remember to set a stop-loss to prevent being washed out.) Specific operational strategies are mainly based on market data. For more information, please consult the author. The article is published with a delay and is recommended for reference only. Trade at your own risk.

This article is exclusively provided by the Cryptocurrency Circle Academician and represents the Academician's exclusive viewpoint. In-depth research on BTC, ETH, DOGE, DOT, FIL, EOS, etc. Due to the timing of article publication, the above views and suggestions are not real-time and are for reference only. Trade at your own risk. Reprinting requires attribution. 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 are wrong, you should summarize where your own problems lie, and do 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. 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 Circle Academician wishes you a pleasant investment!

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