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 losses in the short term, 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 advises all cryptocurrency friends to learn while trading, summarizing both profits and losses in a timely manner, deepening the understanding of risks, and planning the correct mindset. This way, risks can be reasonably avoided, and one can become a qualified investor.
11.3 Bitcoin (BTC) Market Analysis Reference
Yesterday, Bitcoin faced pressure around the 111200 position, and in the early morning, the price experienced a pullback of over a thousand points, with both bulls and bears entering a range-bound market. As of the time of writing, the market is once again testing lower, with the price slightly breaking below the 110000 mark, currently operating around the 110000 position, indicating that the upper resistance remains quite strong.
From the daily chart perspective, yesterday's price closed with a bearish candle, and the market is under pressure at the middle band position. However, the trend has not stabilized, and the market is also under pressure above the midline, with a pullback of over 1000 points. The MACD and Stoch indicators in the attached chart show a flattening trend, indicating that the intraday market is still leaning towards weak fluctuations. On the hourly chart, due to the market's rise followed by a pullback, the current trend is approaching the support near the middle band. Both bulls and bears are in a consolidation phase, with short-term resistance focusing on the 111500 line. If the subsequent rebound can break through, the upward momentum is expected to continue. Currently, the support below is focused on the 109000 line.
11.3 Bitcoin Short-term Reference:
Short position entry point 111500-112500, stop loss at 114800, take profit: below 111500.
Long position entry point 107500-106500, stop loss 500, defend at 104000, target above 108300.
There may be a delay in the article's release; the strategy suggestions are for reference only. The market changes rapidly, and regardless of how confident one is in market judgment, it is essential to manage take profit and stop loss effectively. For more real-time trading strategies, online technical learning, and exit strategies, you can follow the mentor's public account (Mr. Coin in the cryptocurrency circle) for addition methods: the first ten each day can receive free exit strategies.
For more real-time trades, you can follow my public account for online market technical learning, exit strategies, etc. I have researched the market for many years, studying the major trends in the cryptocurrency circle, and have studied extensively in the U.S., mainly analyzing and guiding BTC, ETH, DOT, LTC, FIL, EOS, BCH, ETC, and other coins. For those who are unsure about trading, you are welcome to study and learn together.
Exclusive views, there may be a delay in the article's release, risks are self-borne, manage positions reasonably, and avoid heavy or full positions. Mr. Coin wishes all fans to achieve financial freedom, move forward together, and keep pushing. 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. Keep it up!
—— This article is written by Mr. Coin in the cryptocurrency circle, no plagiarism, respect originality!
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