Cryptocurrency trading is a long-term plan; it is not about immediate results, 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 operating, summarizing both gains and losses in a timely manner to deepen their understanding of risks and develop the correct mindset. This way, risks can be reasonably avoided, and one can become a qualified investor.

Mr. Coin's Analysis Reference for Bitcoin (BTC) on November 2

Bitcoin broke down yesterday, showing a strong decline, with prices dropping to around 68,900 before rebounding. Currently, the price is running around 69,700, with multiple intraday pullbacks to the 68,800 level for rebounds. This level was mentioned in yesterday's article as support. If it breaks below the daily midline, a stronger decline is expected, so all cryptocurrency friends should prepare in advance.

From the daily chart, yesterday's market saw a strong downward trend, forming three consecutive bearish candles, with bearish sentiment still strong. Currently, as the price has once again tested 68,800 and rebounded, both bulls and bears are in a stalemate. The daily Bollinger Bands are in a contracting state. If the rebound cannot stabilize above the 70,000 mark, further retracement to support is expected. Mr. Coin advises against blindly chasing long positions and to be cautious of price breaking down. The attached MACD and Stoch lines are both expanding downwards, and the RSI shows signs of flattening in the oversold area, indicating that the market is still in a downward oscillation. Therefore, it is recommended to focus on short positions during rebounds.

On the short-term hourly chart, the Bollinger Bands are contracting. Although the price has tested 68,800 twice and rebounded, it has not broken through the 70,000 resistance, and the strength of the rebound is gradually weakening, with the upper resistance slowly moving down. Further price retracement to support is expected. The Bitcoin market is leaning towards a downward trend, so the focus should still be on the daily Bollinger midline support, maintaining a strategy of short positions during rebounds.

Short-term Reference for Bitcoin on November 2:

For more real-time trading strategies, online technical learning, and exit strategies, you can follow the mentor's public account (Mr. Coin) for access. The first ten people each day can receive free exit strategies.

Long positions: Buy in the 68,100-68,600 range, with a stop-loss at 67,200 and a target above 70,000.

Short positions: Sell in the 71,000-71,500 range, with a target near 70,000, a stop-loss at 72,900.

Short-term Reference for Ethereum on November 2:

Short positions: Sell in the 2,560-2,590 range, with a stop-loss at 2,850 and a target below 2,650.

Long positions: Focus on the 2,420-2,460 range, with a stop-loss of 50 points and a target above 2,520.

The article may have delays in sending, and the strategy suggestions are for reference only. The market changes rapidly, so regardless of how confident you are in your market judgment, always set take-profit and stop-loss levels to secure your gains.

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. focusing on analyzing BTC, ETH, DOT, LTC, FIL, EOS, BCH, ETC, and other cryptocurrencies. I welcome all cryptocurrency friends who are unsure about trading to study and learn together.

This article is exclusively shared by Mr. Coin and represents his unique perspective. There may be delays in sending the article, and risks are to be borne by the reader. Manage your 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 take action 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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