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 the understanding of risks, and planning the correct mindset. This way, risks can be reasonably avoided, and one can become a qualified investor.
8.13 Bitcoin (BTC) Market Analysis Reference
Yesterday, Bitcoin's price rose but failed to effectively break through the 120,000 mark, leading to a strong spike in the market. The short-term trend is volatile, with a low point touching around 118,000 before recovering as expected, bringing the price back above 119,000. However, it has not broken the resistance at the 120,000 level, and the market is under pressure, re-entering a high-level consolidation. If the 120,000 mark is broken today, the increase is expected to continue; otherwise, it will maintain consolidation.
From the daily chart, the trend shows six consecutive bullish candles, indicating strong bullish sentiment, and the upper channel is relatively good. Currently, the five-day moving average is providing support around 58,000. As long as this level is not broken, the subsequent market is expected to continue its upward trend, so it is recommended to focus on long positions.
On the short-term 4-hour chart, the market is slowly moving around the middle band of the Bollinger Bands, with the price facing resistance in the 120,000 area several times. This indicates selling pressure above, and if it cannot effectively break through, there is a possibility of a pullback for support. The short-term trend is in a corrective phase, so it is advisable to operate with high shorts and low longs. A breakthrough of the 120,000 mark can be pursued with a light position.
8.13 Bitcoin Short-term Reference:
Short position entry point 120,300-121,300, stop loss at 125,500, target below 119,500, stop loss: 500.
Long position entry point 117,200-118,200, stop loss 500, defend at 116,000, target above 119,400.
The article is sent with a delay, and 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) 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 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 in the U.S. multiple times, mainly analyzing and guiding BTC, ETH, DOT, LTC, FIL, EOS, BCH, ETC, and other coins. For those who are not familiar with trading, you are welcome to study and learn together.
Exclusive views, the article is sent with a delay, risks are self-borne, manage 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. Keep it up!
—— This article is written by Mr. Coin from the cryptocurrency community, no plagiarism, respect originality!
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