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 learn while trading, summarizing both gains and losses in a timely manner to deepen their understanding of risks and to plan the correct mindset. This way, risks can be reasonably avoided, and one can become a qualified investor.
10.24 Bitcoin (BTC) Market Analysis Reference
Bitcoin has risen to around the 111240 position during the day but faced resistance, and the subsequent pullback has not been strong, leading to a sideways trading rhythm. Short-term trading volume is sluggish, with the price fluctuating above the 110,000 mark. Currently, the price is around 110300, with both bulls and bears in a stalemate. The daily support has shifted upward, showing signs of bottoming out around the 10600 line. If the price breaks and stabilizes above 110,000, it is expected to test further upward. Please be prepared. If the price breaks below the 109000 line, there is a risk of retreating to the previous low support at 107000.
On the short-term hourly chart, although the price has broken through the mid-band resistance and continued to rebound, the upper band resistance is slowly moving down. A prudent approach is to go short at high points and long at low points. The upper resistance is in the 112300-112800 area, while the lower support is around 108500. The short-term trend is leaning towards consolidation, and it is expected that this consolidation will continue for some time. It is advisable to wait for a breakout to follow the trend.
10.24 Bitcoin Short-term Reference:
Short position entry point 112500-111500, stop loss at 115800, take profit target below 110500.
Long position entry point 108500-107500, stop loss at 500, add to position at 105000, target above 109500.
The article is sent with a delay, and the strategy suggestions are for reference only. The market changes rapidly, and regardless of how confident you are in your market judgment, 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 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 extensively in the U.S. focusing on analyzing 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 borne by the reader, and it is important to control your position 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 from the cryptocurrency community, no plagiarism, respect originality!
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