The cryptocurrency trading circle 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 increase 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, 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 8.6 Bitcoin (BTC):
Yesterday, Bitcoin showed a slight recovery in bullish sentiment, with prices slightly breaking through the 115,000 level before facing pressure. Subsequently, the price continuously retraced downwards, and as of now, it has adjusted to the 114,000 area. The bullish sentiment during the day has weakened, and the market has once again entered a range consolidation.
From the daily chart, although the price rebounded yesterday, the subsequent supply was insufficient, and the trend did not stabilize upward. Currently, it is again retreating to the support below, with a low rebound at the 112,580 position. If the price cannot sustain a rebound and break through yesterday's high pressure, it is expected that the consolidation will continue for some time. The day’s operation should maintain high short and low long positions.
On the short-term hourly chart, the Bollinger Bands are in a contracting posture, with prices under pressure and retracing in the middle-lower band area. The current price is fluctuating near the lower part of the Bollinger middle axis, with short-term mid-band pressure at the 114,200 level. If it can break through and stabilize, the price is expected to return to the 115,000 pressure area. Conversely, if multiple attempts fail to form an effective breakthrough, it is expected that the price will further retreat to the support area below.
Market Analysis Reference for 8.6 Bitcoin:
Short position entry point in the 115800-114801 range, with a stop loss at 117500, stop loss of 500, target below 113500.
Long position entry point in the 112600-111600 range, with a stop loss at 110000, stop loss of 500 points, target above 113400.
Mr. Coin's Cryptocurrency Market Analysis Reference for 8.6 Ethereum (ETH):
Yesterday, Ethereum continued to rise, reaching a high near the 3700 position before facing pressure and retracing. Although it attempted to rally again in the evening, unfortunately, it did not stabilize, and the market entered a high-level consolidation. Today, the price has entered a wide-ranging oscillation rhythm, currently retracing in the 3600 area.
From the daily chart, although the upward momentum is not strong, the market maintains a high-level consolidation, with the trend in a state of oscillation and slowly moving support. As long as the retracement does not fall below the 3530 level, it is highly likely that the market will continue to rise.
On the short-term 4-hour chart, the Bollinger Bands are in a contracting posture, with the market above the mid-band, and both bulls and bears are relatively stalemated. Currently, the market is leaning towards oscillation, and it is expected that there will not be significant changes in the daily pattern in the short term. Everyone should maintain high short and low long positions. Pay attention to the pressure near 3700 above and the support levels of 3560-3530 below.
Short-term Reference for 8.6 Ethereum:
Short position entry point in the 3735-3685 range, with a stop loss at 3880, stop loss: 30 points, target below 3600.
Long position entry point in the 3530-3470 range, with a stop loss at 3300, target above 3600.
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 judgment, it is essential to manage take-profit and stop-loss effectively. 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.
For more real-time trades, you can follow my public account for online market 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., mainly analyzing and guiding BTC, ETH, DOT, LTC, FIL, EOS, BCH, ETC, etc. For those who are unsure about trading, you are welcome to study and learn together.
This article 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 borne by the reader. Manage positions reasonably and avoid heavy or full positions. Mr. Coin wishes all fans to achieve financial freedom, move forward together, and 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 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. Keep it up!
—— This article is written by Mr. Coin in the cryptocurrency circle, refusing to plagiarize and respecting originality!
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