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 suggests that all cryptocurrency friends should learn while trading, summarizing both gains and losses in a timely manner to deepen their understanding of risks and to plan a correct mindset. This way, risks can be reasonably avoided, and one can become a qualified investor.
7.30 Bitcoin (BTC) Market Analysis Reference
Yesterday afternoon, Bitcoin faced pressure around the 119260 position, leading to a price correction of nearly two thousand points, with both bulls and bears stuck in a high-level consolidation. In the early hours of the day, the market made another attempt to rise, repeatedly facing pressure at the 118000 position, with the price showing spikes upwards. Currently, the price has again retreated to around 117500, indicating that the resistance above is still quite strong.
On the daily chart, the price closed with a bearish candle yesterday, facing pressure at the middle track position. Currently, it has broken upwards again, but the trend has not stabilized, and the overall upward trend remains unchanged. The MACD and KDJ indicators show signs of a death cross, indicating that the market is leaning towards weakness.
On the hourly chart, due to a strong correction after a price surge, the Bollinger Bands are gradually narrowing. The current trend is under pressure in the middle-lower track area, with a short-term rebound reaching the 116900 position. Currently, both bulls and bears are in consolidation, with short-term resistance focusing on the 118500 line. If the subsequent rebound can break through, the increase is expected to continue. The support below is focused on the 116800 line.
For more real-time trading strategies, online technical learning, and exit strategies, you can follow the mentor's public account (Mr. Coin) for ways to add: the first ten each day can receive free exit strategies.
7.30 Bitcoin Short-term Reference:
Short position entry point: 119500-118500, stop loss at 121500, target below 118000.
Long position entry point: 116800-115800, stop loss at 500, defend at 114000, target above 117500.
7.30 Ethereum (ETH) Market Analysis Reference
Ethereum's market continued to rise yesterday, with a slight rebound in price, but the upward momentum was not strong. The market tested the 3880 line twice before correcting. Currently, the price is operating in the 3770 area, and the short-term increase has begun to weaken, but the upward trend for the day remains unchanged. Therefore, it is still recommended to focus on long positions in line with the trend.
On the daily chart, after a large bullish candle broke out on July 27, there were two consecutive days of bearish candles, forming an "uptrend-correction" structure. On July 30, the 4-hour chart showed five consecutive bearish candles testing the 3750 support, forming a local descending channel. The monthly chart maintains an upward channel, and the July candlestick shows a long upper shadow indicating strong pressure at the 4000 level. MACD: The daily DIF (285) has crossed below the DEA (284), with the histogram shrinking to 1.63, indicating weakened short-term momentum. EMA: The price is stable above EMA30 (3301), but the short-term EMA7 (3746) has diverged from the price. Overall, as long as the price does not break below 3700 during the day, the bullish trend remains unchanged. Short-term support is focused on the 3670 line, and resistance above is focused on the 3880-3900 position.
7.30 Ethereum Short-term Reference:
Short position entry point: 3920-3870, stop loss at 30, target 30-60 points.
Long position entry point: below 3700-3650, stop loss at 30 points, target above 3750.
The article may have delays in sending, and the strategy suggestions are for reference only. The market changes rapidly, and regardless of how confident one is in market judgments, it is essential to set take-profit and stop-loss levels. For more real-time trading strategies, online technical learning, and exit strategies, you can follow the mentor's public account (Mr. Coin) for ways to add: the first ten each day can receive free exit strategies.
For more real-time trades, 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., mainly analyzing and guiding BTC, ETH, DOT, LTC, FIL, EOS, BCH, ETC, and other cryptocurrencies. For those who are not familiar with trading, you are welcome to study and learn together.
Exclusive opinions, the article may have delays in sending, risks are self-borne, and it is important to manage positions reasonably. Do not operate with 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, 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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