The cryptocurrency trading circle is a long-term plan, not something that can be accomplished overnight, so one should not be overly anxious. Even if there are losses in the short term, there is nothing to fear. As long as the direction chosen afterward is correct, what was lost will eventually return. However, it is essential to grasp the timing of trades and the current market trends to improve the winning rate. At the same time, investing is also a process of growth. Coin Mr. advises all coin friends to learn while trading, and to summarize gains and losses in a timely manner, deepening understanding of risks and planning the correct mindset, so as to reasonably avoid risks and become qualified investors.
Coin Mr. on the cryptocurrency market: 3.24 Bitcoin (BTC) market analysis reference
The signal for a change in Bitcoin's trend has arrived. Yesterday afternoon, the price reached a low of 67916, and then rebounded directly to above 70,000. The rebound was nearly 5000 points within the day, indicating that the 67500 area is the bottom line for main funds, and also a previous low point. The bears have attacked here but could not push the price down further. The daily chart is even more interesting. For three consecutive days, it has closed with gains, but note that each bullish candle has a long upper shadow. This indicates that the bulls want to push upwards, but at the 72000 position, the bears are heavily entrenched with concentrated selling pressure. This is a deadlock between bulls and bears, where neither side is giving way. Looking at the MACD, which is the most indicative of trend strength, at the 4-hour level, DIF has formed a golden cross with DEA and continues to move upward, rising from -269 to 603, which signals a strengthening of short-term momentum. However, the MACD histogram at the daily level has contracted from 1457 to 141, indicating that the speed of this increase has noticeably slowed. This means that the rebound force at a higher level still needs to be observed. On the moving average front, the price has already risen above EMA7, currently running above 69879, which is a sign of short-term strengthening. However, we can see that EMA30 and EMA120, at 70040 and 70290, have formed a death cross. This position is the dividing line for bulls and bears. If the price can break through this region with higher volume, then the trend will completely reverse. If it fails to stand above it, this is a classic trap for induced buying.
Regarding trading volume, at 8 PM yesterday, there was a spike in volume resulting in a drop of 7343, indicating that funds are escaping. But what about the subsequent rebound? The volume decreased, indicating that buying was very cautious and no one was willing to chase after high prices. The most critical point is the key resistance level of 71246, which saw a volume peak of 3251. This is a clear signal — this position is a mark left by the main funds testing the market. To break through, there must be buying volume exceeding this level to confirm it. Overall, 67500-68500 has strong support, while around 72000, there is strong selling pressure. Short-term moving averages are performing well, but long-term moving averages remain suppressive. The MACD has a small-level golden cross, but momentum at higher levels is diminishing. This market is forming a converging triangle, ready to choose a direction at any moment. At this current stage, both sides have opportunities, but the key is the timing. Be patient and wait for the confirmation signal of the increase in volume. Whoever acts first will be the dominant force in the next trend. Follow Coin Mr. for real-time analysis of the market.
3.24 Bitcoin short-term reference:
In the 72300-73300 range for going long, defend at 75500 with a stop-loss of 500 points, target below 71300
In the 68500-69500 range for going short, target above 70500, stop loss 500
Messages may have delays; strategy suggestions are for reference only. Market conditions change rapidly, regardless of how accurate your judgment is, always stick to profit and loss management for security.
For more real-time trades daily, you can follow the official account (Coin Mr. Talks Coin) to access technical learning for market analysis, liquidation strategies, etc. I have researched the market for years, focusing on major trends in the crypto space, and have studied in the US for guidance in analyzing BTC, ETH, DOT, LTC, FIL, EOS, BCH, ETC, etc. I welcome coin friends who are unfamiliar with trading to study and learn together.
For more daily real-time trade strategies, online technical learning, liquidation strategies, etc., you can follow the official account (Coin Mr. Talks Coin) for access. The first ten each day can receive free liquidation strategies.
For more daily real-time trade strategies, online technical learning, liquidation strategies, etc., you can follow the official account (Coin Mr. Talks Coin) for access. The first ten each day can receive free liquidation strategies. This content is exclusively written by Coin Mr. of the cryptocurrency circle, and all rights are reserved! No plagiarism, respect original work!
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