Cryptocurrency trading is a long-term plan, not something that can be achieved overnight, so one should not be too hasty. Even if there are short-term losses, there is nothing to fear. As long as the subsequent direction is chosen correctly, what is lost will eventually return. However, it is important to grasp the timing of trades and the current market trends to increase the probability of success. At the same time, investing is also a process of growth. Mr. Coin suggests that all cryptocurrency friends learn while operating, summarizing both gains and losses in a timely manner to deepen their understanding of risks and to plan a 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 8: Bitcoin (BTC)

Bitcoin rose by more than 2000 points yesterday. Although there was a pullback after reaching a new high, the subsequent recovery was strong, and the overall upward trend has not changed. The price continued to rise in the early hours of the day, reaching a historical high again. Currently, the market has risen to the 76800 area as expected, with strong bullish sentiment, and there is a trend for further upward movement during the day.

On the daily chart, the price has closed positively for three consecutive days, with support continuously moving up. The market continues its upward trend, and all moving averages maintain a bullish posture, with the upper track being quite good. If the price further tests and breaks through the 77000 line, there is a possibility of continued upward movement during the day. The overall market is returning to a new high, with the 80,000 mark not far away. The trading suggestion for the day is for all cryptocurrency friends to focus on long positions in line with the trend.

On the short-term hourly chart, the MACD is at a high level, with both DIF and DEA diverging upwards. The current market is still in a strong bullish trend, but caution is needed for possible divergence signals. The Bollinger Bands are opening upwards, and after slightly pulling back from the high of 76850, the market is running around 75700. If the price can stabilize at 76000, once the market refreshes its high, the increase will surely continue. Conversely, if it cannot stabilize, the market will test the support below. Therefore, the trading suggestion is to focus on long positions during pullbacks, and if it breaks, one can enter with a small position.

Short-term Reference for Bitcoin on November 8:

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 74100-74600 range, with a stop loss at 72500 and a target above 75300.

Short positions: Sell in the 77000-77500 range, with a target near 76500, a stop loss at 79200.

Short-term Reference for Ethereum on November 8:

Short positions: Sell in the 2960-2980 range, with a stop loss at 3080 and a target below 2880.

Long positions: Focus on the 2720-2760 range, with a stop loss of 50 points and a target above 2820.

The sending of articles may be delayed, and 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 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 cryptocurrency, 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 views. The article may be delayed in sending, 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, 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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