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 increase 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.

8.15 Bitcoin (BTC) Market Analysis Reference

Bitcoin reached a new historical high again yesterday morning, with the price at 124,545 facing pressure and correcting. The short-term price correction is also quite strong, indicating that there is strong resistance above. On the daily chart, yesterday's price ended with a long bearish candle. After the new high, the price strongly corrected within the day, dropping by over 7,000 points. On August 13, a long upper shadow appeared on the daily chart, followed by a large bearish candle on August 14, forming a short-term top signal. On the hourly chart, a significant drop occurred at 20:00 on August 14, forming a cloud cover pattern, confirming short-term selling pressure. MACD: The daily DIF (1253) crossed below the DEA (900), and the histogram shrank and turned negative. The hourly MACD continues to stay below the zero axis, with bears in control. EMA: The daily price broke below EMA7 (119,107) and EMA30 (116,679), and on the hourly chart, EMA7 (118,282) crossed below EMA30 (119,731), forming a death cross.

On the short-term hourly chart, the market has returned to the previous consolidation range for repair, and short-term sentiment is slowly recovering. All moving averages show an upward trend, and the upper gap is slightly opened, indicating some improvement in the short-term situation. Currently, the price is at 118,500, and Mr. Coin expects that there is still potential for further upward movement. If it can break through the 119,000 resistance area during the day, the market is expected to test the 120,000 level again. It is recommended to focus on shorting high and longing low.

8.15 Bitcoin Short-term Reference:

Short position entry point 120,300-121,300, stop loss at 125,500, take profit target below 119,500.

Long position entry point 117,500-116,200, stop loss at 500, defend at 114,000, take profit target above 118,400.

There may be delays in article posting, and 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 strategy advice.

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 circle, and have studied extensively in the U.S. to mainly analyze and guide 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, there may be delays in article posting, 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, to move forward together and cheer each other on. 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 in the cryptocurrency circle, refusing plagiarism and respecting originality!

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