Cryptocurrency trading is a long-term plan, not something that can be achieved overnight, so one should not be too hasty. Even if there are short-term losses, there is nothing to fear. As long as the subsequent direction is chosen correctly, what has been lost will eventually return. However, it is important to grasp the timing of trades and the current market trends to improve the win rate. At the same time, investing is also a process of growth. Mr. Coin suggests that all cryptocurrency friends learn while trading, summarizing both gains and losses in a timely manner, deepening their understanding of risks, and planning the correct mindset. This way, risks can be reasonably avoided, and one can become a qualified investor.
7.1 Mr. Coin's Analysis of Bitcoin (BTC) Market Trends
Yesterday, Bitcoin maintained a wide range of fluctuations. After a pullback in the morning, it rebounded, and bullish sentiment warmed up. The price began to slowly test upwards, reaching a high of 108,700, where it faced resistance, and by the evening, the price had retreated again. Today, the upward momentum has weakened, and the price has not stabilized around the 108,000 level. However, the overall fluctuation pattern has not been broken, and the focus should be on the support level around 105,800.
On the daily chart, the price closed with a bearish candle yesterday, and the fluctuation pattern is further compressed. Market sentiment shows a trend of weakening. The current price has touched the 106,600 level, which has provided a decent rebound, but both bulls and bears are still in a stalemate. The MACD and Stoch indicators are slightly trending downwards, indicating a bearish bias for the intraday market.
On the short-term hourly chart, the Bollinger Bands are slightly open, and the intraday market is under pressure, showing a clear downward trend. However, the support below has not been broken, and the market is still expected to rebound from the support level. All cryptocurrency friends should be prepared in advance. Overall, since the key support has not been broken, all operations should maintain a strategy of high short and low long. The upper resistance is focused on the 108,500-109,000 range, while the lower support is focused on 105,800.
For more real-time trading strategies, online technical learning, and exit strategies, you can follow the mentor's public account (Mr. Coin) for access. The first ten daily followers can receive free exit strategies.
7.1 Short-term Reference for Bitcoin:
Short position entry point 108,500-109,500, stop loss at 111,000, target below 107,500.
Long position entry point 105,300-106,300, stop loss at 500, defend at 104,000, target above 107,000.
There may be delays in article posting, and strategy suggestions are for reference only. The market changes rapidly, and regardless of how confident you are in your market judgment, always set stop-loss and take-profit levels to secure your gains.
For more real-time trades, you can follow my public account for online technical learning, exit strategies, etc. I have studied the market for many years, focusing on the major trends in the cryptocurrency space, and have studied extensively in the U.S. to analyze and guide BTC, ETH, DOT, LTC, FIL, EOS, BCH, ETC, and other cryptocurrencies. I welcome all cryptocurrency friends who are unsure about trading to study and learn together.
For more real-time trading strategies, online technical learning, and exit strategies, you can follow the mentor's public account (Mr. Coin) for access. The first ten daily followers can receive free exit strategies.
This is an exclusive viewpoint. There may be delays in article posting, and risks are to be borne by the reader. Manage your positions reasonably and avoid heavy or full positions. Mr. Coin wishes all fans to achieve financial freedom, to move forward together, and to keep striving. In the depths of time, hold onto understanding. In investing, one must learn to be optimistic. Do not let your future self dislike your present self. We live authentically, but not every data revelation needs to be taken too seriously. Let the past be the past, and let the future come quickly! Take good care of yourself, prepare well, and be ready to set off at any time. Let's go!
—— This article is written by Mr. Coin, and we refuse to plagiarize and respect originality!
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