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 losses in the short term, 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 a correct mindset. This way, risks can be reasonably avoided, and one can become a qualified investor.
2.24 Mr. Coin's Cryptocurrency Market Analysis: Bitcoin (BTC)
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.
Yesterday, Bitcoin rebounded but faced resistance at the daily midline and retraced, with bullish sentiment gradually weakening throughout the day. The price is continuously moving downwards. From the afternoon to the evening, it further declined, currently touching the low at 95230 and showing a rebound. The current price is around 95700, with both bulls and bears starting to push up again, although the range has shifted downwards.
On the daily chart, the Bollinger Bands are narrowing, and bearish sentiment is gradually intensifying. The market is under pressure and retracing, with prices continuously testing lower levels. The coin price remains below the midline of the Bollinger Bands. If this area of resistance cannot be broken today, there is a trend for further retracement. The MACD indicator shows a downward trend across multiple timeframes, with both the fast and slow lines operating below the zero axis. The RSI index is close to 50 in the short term, indicating a weak area. In the EMA moving average system, the short-term (7-day) EMA has crossed below the long-term (30-day and 120-day) EMA, forming a death cross. The daily chart has shown several consecutive trading days of bearish candles, and the RSI is slightly trending downwards, indicating a volatile downward trend. Therefore, it is not recommended to blindly chase after price increases today.
On the short-term hourly chart, the Bollinger Bands are opening downwards, and the market is retracing within the middle and lower bands. Although there has been a slight rebound, the upper middle band resistance is continuously moving downwards. If a sustained rebound cannot break through, there is a possibility of further retracement support. It is recommended to focus on short positions primarily, with some long positions as a supplement.
2.24 Bitcoin Short-term Reference:
Short Position: 96800-97500, stop loss at 99000, target below 96000.
Long Position: Focus on the 94300-94800 range, stop loss at 92000, target above 95500.
2.24 Mr. Coin's Cryptocurrency Market Analysis: Ethereum (ETH)
Ethereum's market today has seen a rise followed by a pullback, with the overall trend slowly moving upwards, maintaining high-level fluctuations. The trend is stronger than Bitcoin, with the current price around 2800, and bullish sentiment still holds an advantage. The trend is adjusting at high levels, with short-term resistance at the 2850 line. This indicates that there is still significant resistance above, and it is not recommended to blindly chase long positions before breaking through the 2850 level to avoid a potential drop under pressure and the risk of being trapped at high levels. The current price is too high, so it is better to wait for a significant pullback before re-entering for a more stable approach.
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.
2.24 Ethereum Short-term Reference:
Short Position: 2830-2880, stop loss at 3040, target below 2770.
Long Position: Focus on the 2635-2680 range, stop loss of 50 points, target above 2730.
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 your market judgment, always set take-profit and stop-loss levels to secure your gains.
Mr. Coin's public account: Mr. Coin
For more real-time trading strategies, you can follow my public account for access. You can learn online about market techniques, 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. 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 set off at any time. Let's go!
—— This article is written by Mr. Coin, no plagiarism allowed, respect originality!
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