Cryptocurrency trading is a long-term plan, not something that can be achieved overnight, so one should not be overly anxious. 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 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.
11.11 Bitcoin (BTC) Market Analysis Reference
Yesterday, Bitcoin faced resistance around 10666, leading to a market correction and entering a high-level consolidation. Subsequent attempts to break through the resistance were unsuccessful, and the upward momentum weakened, with prices slightly retreating as expected. Currently, the trend has touched around 104650, showing a rebound. After the previous wave of rebound, short-term support has shifted upward, but the consolidation pattern has not changed, so the current strategy is to go short at high points and long at low points.
From the short-term hourly chart, the Bollinger Bands are currently open, with both bulls and bears in a stalemate, and prices are hovering within a range without signs of breaking out. Therefore, we can seize a range profit in the short term. The upper resistance is near the 107500 daily middle axis, while the lower support is near the 103500 four-hour middle axis. Note that the short-term market is quite volatile, so try to control risks when trading.
11.11 Bitcoin Short-term Reference:
Short entry point 106200-107200, stop loss at 108500, target below 105800,
Long entry point 103000-104000, stop loss 500, defend at 100500, target above 105000,
There may be delays in article transmission, and strategy suggestions are for reference only. The market changes rapidly, and regardless of how confident you are in market judgments, always set stop-loss and take-profit levels. For more real-time trading strategies, online technical learning, and exit strategies, you can follow the mentor's public account (Mr. Coin Discusses Currency) for addition methods: the first ten each day can receive free exit strategies.
For more real-time trades daily, 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 space, and have studied extensively in the U.S. focusing on analyzing 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 delays in article transmission, risks are self-borne, manage your positions reasonably, and avoid heavy or full positions. Mr. Coin wishes all fans to achieve financial freedom, moving forward together. 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 from the cryptocurrency circle, no plagiarism, respect originality!
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