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 profits and losses in a timely manner, deepening their understanding of risks, and planning the correct mindset. This way, risks can be reasonably avoided, and one can become a qualified investor.

Mr. Coin's Cryptocurrency Market Analysis Reference for November 7: Bitcoin (BTC)

This month, Bitcoin has accumulated a rise of nearly ten thousand, breaking historical highs again this year. Compared to last year, Bitcoin has more than tripled. This rebound in Bitcoin is undoubtedly benefiting from the optimistic sentiment in the financial markets and the stimulus measures from the U.S. presidential election.

Yesterday, Bitcoin's price continued to reach new highs, breaking through the 76,000 line, with high levels approaching 76,400 facing pressure and pulling back. The price has shown significant volatility, and the market has entered a consolidation phase after being blocked at high levels. The upward momentum has weakened again today, with a slight pullback, and the current price is running around 75,000. The overall trend is leaning towards consolidation, so aggressive trading is not recommended for today; maintaining high short and low long positions in the short term is sufficient.

Looking at the four-hour chart, after being pressured at the new high of 76,400, the short-term trend has entered a high-level consolidation rhythm. However, the price has not further broken through the 76,400 resistance. If the trend cannot break out for a long time, the price is expected to continue consolidating at high levels. The overall trend direction of Bitcoin remains unchanged, but after reaching a new high, the price has not significantly pulled back. The market is expected to continue to oscillate upwards, and since the market is currently in a corrective consolidation phase, it is not recommended for friends trading spot to enter at the current price. It is better to wait for a significant pullback before considering entry. For those trading contracts, the current situation is a consolidation market, and everyone can operate with high shorts and low longs.

Short-term Reference for Bitcoin on November 7:

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.

Long positions: Buy in the 74,000-73,500 range, with a stop loss at 72,500 and a target above 75,000.

Short positions: Sell in the 77,500-78,000 range, with a target near 76,500, a stop loss at 79,200.

Short-term Reference for Ethereum on November 7:

Short positions: Sell in the 2,960-2,980 range, with a stop loss at 3,080 and a target below 2,880.

Long positions: Focus on the 2,620-2,660 range, with a stop loss of 50 points and a target above 2,720.

The article may have delays in sending, and the strategy suggestions are for reference only. The market changes rapidly, and regardless of how confident you are in market judgments, 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 in the U.S. multiple times, mainly analyzing and guiding BTC, ETH, DOT, LTC, FIL, EOS, BCH, ETC, and other cryptocurrencies. For those who are not familiar with trading, you are welcome to study and learn together.

This article is exclusively shared by Mr. Coin and represents his unique views. There may be delays in sending the article, and risks are to be borne by the reader. Manage your positions reasonably, and do not operate with 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, sharpen your skills, and be ready to set off at any time. Let's go!

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

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