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 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.
7.29 Bitcoin (BTC) Market Analysis Reference
Bitcoin continued its upward trend yesterday, approaching the 120,000 mark, with prices touching around 119,800 and facing resistance. Subsequent attempts to break through the 120,000 resistance were unsuccessful, and the market began to pull back from the afternoon to early morning. Currently, the price is around 118,000, with the upward momentum weakening and the market entering a consolidation phase. Therefore, it is not recommended to blindly chase long positions, as there is a risk of price pressure leading to further support retracement.
On the short-term hourly chart, the Bollinger Bands are beginning to narrow, and bullish sentiment has weakened. The current upward movement is facing pressure, and resistance is slowly moving down. A short-term pullback signal has been given, and it is expected that prices will test downward again. Therefore, it is not recommended to blindly enter long positions at this time; it is better to wait for support to be reached. Due to the weakened upward momentum during the day, the market is in a consolidation phase, so our strategy is to short high and long low. Pay attention to the resistance around 199,500 and the support around 116,800.
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 people each day can receive free exit strategies.
7.28 Bitcoin Short-term Reference:
Short position above 119,500, with a stop loss at 122,500; target below 118,500.
Long position below 117,000, with a stop loss of 500; target above 118,000.
7.29 Ethereum (ETH) Market Analysis Reference
Although Ethereum continued its upward trend, it did not stabilize above the 3,900 mark. After reaching a new high, it also experienced a pullback, touching around 3,750 in the early morning, completely retracing yesterday's gains. Therefore, it is not recommended to blindly chase long positions, as there is a risk of price pressure leading to further declines.
On the short-term 4-hour chart, the Bollinger Bands are showing a slight narrowing, and the price is currently operating in the middle band support area. The price has temporarily eased its decline near the middle band support. The short-term trend is weak, and if the rebound does not stabilize above 3,800, once the short-term support at 3,750 is broken, there is a possibility of continued downward testing. Please be prepared in advance. The short-term trend remains in a consolidation phase, so our strategy is to short high and long low, with a range focus on 3,680-3,920.
7.29 Ethereum Short-term Reference:
Short position above 3,920, with a stop loss of 30; target 30-60 points.
Long position below 3,700, with a stop loss of 30 points; target above 3,750.
The article may have delays in sending, and the 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) for access. The first ten people each day can receive free exit strategies.
For more real-time trading strategies, you can follow my public account for online 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 cryptocurrencies. For those who are not familiar with trading, I welcome you to study and learn together.
Exclusive opinions, the article may have delays in sending, risks are self-borne, and it is important to control positions reasonably. Do not operate with heavy or full positions. Mr. Coin wishes all fans to achieve financial freedom, to move forward together, and to 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, sharpen your skills, 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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