The cryptocurrency trading market 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 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 profits 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.
2.14 Mr. Coin's Cryptocurrency Market Analysis: Bitcoin (BTC)
Recently, Bitcoin's market has been quite volatile, with back-and-forth movements between long and short positions, which is relatively favorable for our trading. The recent articles have provided very accurate short-selling strategy suggestions, and I believe those who followed them have gained significantly. Let's take a look at today's market: Bitcoin's intraday decline has reached nearly 3000 points, with the intraday low approaching around 95200. As of early this morning, the price has remained in a low oscillation, with a relatively weak short-term trend, currently moving around the 95800 area. The price fluctuations in the short term are quite large, so it is advised that all cryptocurrency friends manage their risks reasonably.
From the daily chart, the K-line has been alternating between long and short positions over the past four days, and the range continues to move downward. The price is operating below the middle axis of the Bollinger Bands, and the daily resistance level has shifted downwards. If a new low is refreshed, there is a possibility of further downward movement. We should still pay attention to the previous resistance area (98200) that has not been firmly established. If it can break and stabilize above this area today, the range market will be broken, but the short-term trend will not change. In the auxiliary indicators, the MACD lines maintain a downward posture, and the KDJ shows a death cross, indicating that the intraday market is still leaning towards weakness.
On the short-term hourly chart, the Bollinger Bands are opening, and the market is operating in the middle and lower track areas. The middle track resistance has not been broken, and long upper shadows have appeared, indicating that the market is under pressure. The MACD continues to diverge downwards, with both the fast and slow lines below the 0 axis. The RSI is currently around 42, overall weak, and has not yet entered the oversold zone, but there is still a need for adjustment. EMA7, EMA30, and EMA120 are all in a bearish arrangement, indicating that both short-term and medium-term trends are leaning towards weakness. Recently, the closing price has been below various moving averages, strengthening the bearish signal. If the rebound is weak in the future, the bears will inevitably return, and there is a risk of the market retracing to lower support. Currently, the short-term is in an adjustment and repair rhythm, expecting a short-term rebound but with limited strength. It is not recommended to chase shorts at low levels; instead, consider shorting on rebounds and going long at low levels.
2.14 Bitcoin Short-term Reference:
Short Position: Short at 97500-97000, defend at 99000, stop loss: 500, target below 96300 (aggressive friends can short lightly around 96500, and if opportunities arise, they can defend and add to their positions as needed).
Long Position: If it does not break 95000, consider a light long position around 95000, with disaster levels focusing on the 93800-94300 range, defend at 92500.
2.14 Mr. Coin's Cryptocurrency Market Analysis: Ethereum (ETH)
Although Ethereum rebounded yesterday, the upward momentum weakened afterward, and the market did not stabilize for another attack. The current trend is a high pullback, with prices operating around the 2640 level. The short-term trend is weak, and the lower track gap has opened. The price has fallen below the 4-hour Bollinger middle axis, forming resistance, and there is a possibility of further downward movement and a return to support. It is advised that everyone prepares early. The intraday Ethereum trend shows a downward oscillation, so the strategy suggests focusing on short positions, with long positions as a supplement. The upper resistance is at 2700, and the lower support is at 2580, followed by 2520.
2.13 Ethereum Short-term Reference:
Short Position: Short at 2720-2680, defend at 2850, stop loss: 2870, target below 2630.
Long Position: Focus on the 2450-2480 range, stop loss 50 points, target above 2500.
Every day, 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 each day can receive free exit strategies.
The article may have delays in sending, and strategy suggestions are for reference only. The market changes rapidly, and regardless of how high your judgment of the market is, always set stop-loss and take-profit levels to secure your gains.
Mr. Coin's public account: Mr. Coin in the Cryptocurrency Circle
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 circle, and have studied extensively in the U.S. focusing on analyzing and guiding 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.
This content is exclusively shared by Mr. Coin in the Cryptocurrency Circle and represents his unique viewpoint. The article may have delays 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, 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, sharpen your skills, and be ready to set off at any time. Let's go!
—— This article is written by Mr. Coin in the Cryptocurrency Circle, refusing plagiarism and respecting originality!
Although Ethereum rebounded yesterday, the upward momentum weakened afterward, and the market did not stabilize for another attack. The current trend is a high pullback, with prices operating around the 2554 level. The short-term trend is weak, and the lower track gap has opened. There is a possibility of further downward movement and a return to support. The author, Chen Chuchu, suggests that everyone prepares early. The intraday Ethereum trend shows a downward oscillation, so the strategy suggests focusing on short positions, with long positions as a supplement. The upper resistance is at 2625-2660, and the lower support is at 2510, followed by 2470.
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