There is no need to showcase your strength excessively, what is important is to gain recognition from more people. In the investment journey, it is more important to focus on improving yourself rather than proving your strength to others. Whether you are a donkey or a horse, take them out for a walk and you will know.

As a senior figure in the cryptocurrency circle, I have always been dedicated to providing beneficial advice to everyone, hoping that everyone can avoid detours and mistakes in this market. Although I speak earnestly, the path of investment still needs to be explored by oneself. Learning is endless, and the experiences gained are the true wealth!

Here, I wish my fans will achieve financial freedom in 2024. Let's fight together!

Crypto Academic: Reference for the latest Bitcoin (BTC) market analysis on 6th September 2024.

It is now exactly midnight Beijing time, and the current price of Bitcoin has returned to near the 56,000 mark. Yesterday morning, after the daily closing above 56,000, many sold at 58,000 to take profits, locking in a portion of profits with only a 2,000 point margin. The rest is being held, as some of the positions that were closed out at over 56,000 have been re-entered. Remember not to exit completely to avoid missing the opportunity to get back in. Keep some core positions, trading back and forth will be more comfortable this way. The daily candlestick, before this report was issued, dropped down from the peak of 58,350 to the 56,000 mark, which was where many bought in. Remember to set stop-loss orders and it's okay to exit with a small loss.

Currently, the daily candlestick is at a support level, and the miraculous '9 turns' have just arrived. The AMCD is decreasing in volume, but the candlestick is still within the range, just touching the lower Bollinger Band. The lower band support is near 55,400. The four-hour candlestick has formed a descending channel, which is currently the most frightening trend indicator in the market. Many people rely on a single indicator, leading to speculative moves. However, there have already been four occurrences of bullish and bearish crossovers at the MACD bottom, forming an alternating channel. In such a slow downtrend, the high probability at the end is for a quick rise. Regardless of the market direction, prioritize your risk control and leave the rest to time.

Short-term thinking reference: Since the market is not 100%, it is necessary to set a stop loss for safety first. The goal is to minimize losses and maximize profits.

Hold long position from 56,000 to 55,000. Target price is 57,500 to 58,000. If it breaks through, watch for 59,500 to 60,000. Stop loss at 500 points.

Hold short position from 60,000 to 60,500. Target price is 59,000 to 58,500. If it breaks through, watch for 58,000. Stop loss at 500 points.

Specific operations should be based on real-time market data. For more information, please consult the author. The publication of articles may be delayed, so it is recommended for reference only and at your own risk.

This article is exclusively provided by the Academician in the crypto circle, representing the exclusive views of the Academician. The opinions and suggestions about BTC, ETH, DOGE, DOT, FIL, EOS, etc. are based on in-depth research. Due to the timing of article publication, the above views and suggestions are not real-time and are for reference only. Please indicate the source if you repost. Please control your positions reasonably and avoid overexposure 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 yourself and not let the potential profits slip away. There is no need to be smarter than the market when it comes to investment. When the trend comes, follow it; when there is no trend, observe and wait. It is not too late to start after the trend becomes clear. Tomorrow's success comes from today's choices. The heavens reward hard work, the earth rewards kindness, people reward sincerity, commerce rewards trust, industry rewards excellence, and art rewards dedication. Gains and losses happen inadvertently. Develop the habit of strictly setting stop-loss and take-profit for each trade. The Academician in the crypto circle wishes you a pleasant investment journey!