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 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.
8.2 Bitcoin (BTC) Market Analysis Reference
Bitcoin broke down last night and continued to decline, with an intraday drop of nearly 5000 points. Currently, it has rebounded after touching a low of 112660, with the price around 113300. The short-term price volatility is significant, so it is advised that all cryptocurrency friends manage their risks well. The current trend has rebounded into a corrective consolidation, and as long as the support at 112000 is not broken, it is expected that there will not be a significant drop. Therefore, it is not recommended to blindly chase shorts before the breakdown, as this could lead to unnecessary losses if the market reverses.
On the short-term hourly chart, the Bollinger Bands are opening downwards, and the price is continuously testing the five-day moving average. Although it has touched 112660 and rebounded, temporarily alleviating the downward momentum, the trend remains unchanged after the short-term breakdown. If the subsequent consolidation does not show a good reversal, this wave of decline is expected to be recovered. The MACD and RSI indicators are still trending downwards, indicating the possibility of further declines, so we can operate in the direction of the trend and short. The upper resistance is in the 115600-116700 area.
For more real-time trading strategies, online technical learning, and exit strategies, you can follow the mentor's public account (Mr. Coin) for addition methods: the first ten each day can receive free exit strategies.
8.2 Bitcoin Short-term Reference:
Short entry point: 115600-116700 short, stop loss: 500, target below 114000.
Long entry point: 110000-111500 long, stop loss: 500, defend at 99000, target above 112500.
8.2 Ethereum (ETH) Market Analysis Reference
Ethereum also broke down last night, with the price breaking through the 3500 mark. The market tested the 3430 line before rebounding, and the current price is around 3490. In the short term, it is in a corrective consolidation, and the intraday rebound has not stabilized at the 3600 line. However, the downward trend remains unchanged, so we can think of shorting on rebounds, with upper resistance at the 3600 area.
On the four-hour level, there have been consecutive large bearish candles breaking below the key EMA7 and EMA30 moving averages. The low of 3427 has formed short-term support. The daily level shows a combination of long upper shadows and bearish candles, indicating heavy selling pressure above 3750. MACD: The four-hour level shows the dual lines crossing below the zero axis and the histogram expanding. The daily fast and slow lines have formed a death cross at a high position. RSI: The four-hour RSI (14) has dropped to the oversold area at 24.8, and the daily RSI has plummeted from 87 to 53, showing a top divergence. EMA: The price has broken below the 7/30-day moving averages (3601/3720), with the 120-day moving average at 3529 forming a key defensive resistance level. It is recommended to enter positions based on the current market.
8.2 Ethereum Short-term Reference:
Short entry point: 3560-3610 short, stop loss: 30, target 30-60 points.
Long entry point: 3430-3380 long, stop loss: 30 points, target above 3500.
The article may have delays in sending, and the strategy suggestions are for reference only. The market changes rapidly, and regardless of how confident one is in market judgments, it is essential to manage take-profit and stop-loss levels. For more real-time trading strategies, online technical learning, and exit strategies, you can follow the mentor's public account (Mr. Coin) for addition methods: the first ten each day can receive free exit strategies.
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., mainly 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.
Exclusive views, the article may have delays in sending, risks are self-borne, and positions should be reasonably controlled. Do not operate with 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 current 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, and we refuse to plagiarize and respect originality!
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