The essence of trading is survival, followed by profit. So, before each operation, think clearly about whether your actions are rational, whether your capital is safe, and you need to form your own trading mindset, continuously optimize and improve. Although the advice of the Bitcoin circle expert may not make you rich overnight, it can ensure that they are always there for you. Only those who survive in the Bitcoin circle for a long time and persist until the end can achieve the results they want. I hope you can understand.
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Bitcoin Circle Expert: August 29, 2024 Bitcoin (BTC) Latest Market Analysis Reference
Although Bitcoin did not take profit at the lowest point of 58,000 yesterday, it only took the 59,300 and gained 3,400 before cutting off the bag. Looking at the market situation until one o'clock in the morning before the deadline for the article, the current price of Bitcoin is 58,800, the highest on the daily candlestick line is 60,300, and the lowest has fallen below 58,000. The overall trend of the EMA trend indicator is downward, pulling up to form a gate-shaped reduction, and the possibility of creating new lows is not great. The MACD volume has decreased, the DIF and DEA have ended two-level differentiation and entered below the 0 axis. At this time, there is a possibility of a reversal in the market. The lower band of the Bollinger band tests the bottom at 56,500, and the distance of the candlestick line is not far away. The KDJ is heading down, and the overall trend indicates a high probability of bearish temptation. In terms of mindset, play good defence, find positions to lay out longs.
The four-hour ultra-short-term EMA trend indicator is contracting, with the EMA15 fast line pressure reaching 60,300. The MACD volume is increasing, and the DIF and DEA are about to form an energy indicator downward, indicating that the bull trend in the market is starting to gather strength. The Bollinger band is diffusing downwards, and the candlestick line continuously stands below the lower band of the Bollinger band at 58,000. The KDJ has shrunk to the extreme, and there is a probability of a market reversal. Therefore, it is not suitable to go short at this time. Find positions to lay out longs and set good stop-loss, at worst, exit with a small loss.
Short-term mindset reference:
Layout short positions in the range of 61,500 to 62,000, defense and replenishment short positions at 63,000, stop loss at 500 points, reference exit point at 60,500 to 60,000 level, and exit at 59,500 if breached.
Layout long positions in the range of 56,500 to 56,000, defense and replenishment long positions at 56,000, stop loss at 500 points, reference exit at 57,000 to 58,000, and exit at 59,000 if breached.
Please refer to the real-time data in the order book for specific operations. For more information, you can consult the author for news. The publication of the article has a delay, so it is recommended for reference only. Please be responsible for your own risks.
This article is exclusively provided by the academicians in the cryptocurrency community and represents their exclusive viewpoint. It has an in-depth research on BTC, ETH, DOGE, DOT, FIL, EOS, etc. Due to the timing of the article push, the above opinions and suggestions are not real-time and are for reference only. Please be responsible for your own risks. When reprinting, please indicate the source. Manage your positions reasonably and avoid heavy or full positions.