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.

8.22 Bitcoin (BTC) Market Analysis Reference

Yesterday's Bitcoin market saw a surge followed by a pullback, with significant fluctuations throughout the day. The price faced resistance at the 114770 level and failed to break through the 115000 area as anticipated. The market faced resistance during the upward retracement, entering a weak pullback phase, and the price fluctuation range is gradually being compressed.

From the daily chart perspective, the price closed lower yesterday. Currently, the price is facing resistance near the five-day moving average, with strong resistance in the 114500-115000 range. The MACD indicator shows a death cross, with the fast line below the zero axis, and the RSI trend is relatively flat. This indicates that there is still a risk of a pullback in the market, and blindly chasing the price upward is not recommended.

From the four-hour chart perspective, the Bollinger Bands are opening downward, and the market has faced multiple pressures at the middle band, interrupting the upward momentum. The short-term upward strength is not strong, but the broad trend has not changed. Therefore, the main strategy should still focus on shorting during rebounds, with resistance levels to watch at 113600-114200.

8.22 Bitcoin Short-term Reference:

Short position entry point 114300-115300, stop loss at 117500, take profit target below 113500.

Long position entry point 110200-111200, stop loss at 500, add to position at 108000, take profit target above 112400.

The article may be 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 judgments, it is essential to manage take profit and stop loss effectively to secure gains.

For more real-time trades daily, you can follow my public account to gain insights, learn technical analysis, and strategies for exiting positions. I have researched the market for many years, studying the major trends in the cryptocurrency space, and have studied extensively in the U.S. to provide analysis and guidance on BTC, ETH, DOT, LTC, FIL, EOS, BCH, ETC, and other cryptocurrencies. For those who are unsure about trading, I welcome you to study and learn together. For more real-time trading strategies and online technical learning, you can follow my mentor's public account (Mr. Coin in the cryptocurrency circle) for access. The first ten people each day can receive free strategies for exiting positions.

This is an exclusive viewpoint. The article may be sent with a delay, and risks are to be borne by the reader. It is important to manage positions reasonably and avoid heavy or full positions. Mr. Coin wishes all fans to achieve financial freedom, to move forward together, and to keep striving. 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 diligently, and be ready to set off at any time. Keep going!

—— This article is written by Mr. Coin in the cryptocurrency circle, no plagiarism allowed, respect originality!

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