Trading in the cryptocurrency world is a long-term plan, not dependent on a day or two. Therefore, one should not be too anxious; a short-term loss is not something to fear. As long as the subsequent direction is chosen correctly, what is lost will eventually return. However, it is important to grasp the timing of trades and the current market trends to increase the probability of success. At the same time, investing is also a process of growth. Mr. Coin advises all cryptocurrency friends to learn while they operate, summarizing their profits and losses timely to deepen their understanding of risks and proper mindset planning. This is the way to rationally avoid risks and become a qualified investor.
Mr. Coin's Cryptocurrency: February 24 Bitcoin (BTC) Market Analysis Reference
Bitcoin has moved as expected, showing a pullback today, with prices falling below the short-term support of 66,000, leading to another downward wave. Fortunately, the support at the 64,000 level was not broken, and the current price is around 65,300. In the short-term hourly chart, the trend shows a slight rebound after a pullback; however, the upper pressure is strong, and the resistance above is slowly moving down. If the price does not stabilize and break through the dual resistance of 66,000-67,000, there may be a possibility of further declines.
After a continuous series of bearish candles on the daily chart, on February 23, there was a long lower shadow testing the support at 64,290 and rebounding, indicating a release of short-term selling pressure. The weekly chart shows a double top structure (79,200/71,400), and the current price has broken below the neckline at 68,000, which corresponds to a measured target pointing to the 60,000 area. In terms of MACD, the fast and slow lines on the daily chart are diverging after a death cross below the zero axis, but the histogram has begun to contract, indicating a weakening of short-term bearish momentum, while the high position death cross on the weekly MACD confirms the medium-term adjustment trend. From the perspective of moving averages, the price is being suppressed by EMA7 (67,278) and EMA30 (72,960), resulting in a weak intraday trend. Therefore, our short-term strategy still focuses on rebound short positions, paying attention to resistance in the 67,500-68,500 range, and monitoring key support at the 64,000 level.
February 24 Bitcoin Short-Term Reference:
Short position in the range of 67,500-68,500, with a stop loss set at 70,500, and a target below 66,500.
Long position in the range of 63,500-64,500, with a target above 75,500 and a stop loss of 500.
February 24 Mr. Coin's Cryptocurrency: Ethereum (ETH) Market Analysis Reference
Ethereum's overall trend today is weak, and the upper resistance is slowly declining, with short-term rebounds showing signs of fatigue. The short-term trend is maintaining a weak fluctuation, with a higher probability of breaking downwards again. If it cannot break through and stabilize above 1,950, once the low of 1,850 is breached, the price could decline again. Therefore, our strategy continues to focus on short positions. The upper resistance is watched around 1,950, and the key support is at 1,830.
February 24 Ethereum Short-Term Reference:
Short positions should focus on the 1,930-1,980 range, with a stop loss set at 2,180 and a target below 1,900.
Long positions should focus on the 1,830-1,760 range, with a stop loss of 50 and a target above 1,880.
There may be delays in the content being sent out, and the strategy suggestions are for reference only. The market changes rapidly, and no matter how high the confidence in market judgment is, profits and losses must be managed properly. Taking profits safely is essential.
For more real-time trade strategies, online technical learning, and exit strategies, you can follow the mentor's public account (Mr. Coin Talks) for ways to add: the first ten arrivals each day can receive free exit strategy advice.
For more real-time trades, you can follow the public account (Mr. Coin Talks) to obtain online market technical learning, exit strategies, etc. I have researched the market for many years, studying the cryptocurrency macro trends, and I have studied in the United States multiple times, focusing mainly on analyzing and guiding BTC, ETH, DOT, LTC, FIL, EOS, BCH, ETC, and other currencies. For those who are not familiar with trading, you are welcome to study and learn together.
The content of this article is exclusively shared by Mr. Coin and represents his unique viewpoint. There may be delays in sending out articles. Risks are borne by the reader. It is important to manage positions reasonably and avoid heavy or full positions in trading.Mr. Coin wishes that all his fans achieve financial freedom and progress together, stay strong in deep times, and appreciate understanding. In investing, one must learn to be optimistic. Do not let your future self dislike your current self. We are living authentically, but not every piece of data needs to be taken too seriously after it is revealed. Let the past be the past, and let the future come quickly! Take good care of yourself, get ready, and be prepared to set off at any time. Let's go!
—— This article is written by Mr. Coin, and will not tolerate plagiarism. Respect originality!
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