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 increase the win rate. At the same time, investing is also a process of growth. Mr. Coin advises all cryptocurrency friends to learn while trading, summarizing both profits 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.
8.28 Bitcoin (BTC) Market Analysis Reference
Bitcoin experienced a slight rebound but faced resistance around the 112500 level and quickly retraced. Yesterday, it failed to rally and moved downward again, with the daily candlestick showing a shadow at the end. The current price has retraced to around 111700, and the rebound strength during the day is not strong. If it cannot break through the resistance above 113000, there is still a risk of further retracement, so everyone should be prepared in advance.
Looking at the short-term 4-hour chart, a rebound occurred after touching the low around 110300, but the key resistance above has not been broken. The price is still operating in the mid-range area, and the upper resistance is gradually moving down, while the lower gap has not been closed. If the rebound shows weakness, the price may refresh the lows and test lower levels again. Currently, the trend maintains a weak oscillation, and the daily increase is being retraced, so Mr. Coin suggests a short-term strategy focusing on short positions during rebounds. Pay attention to the resistance around 113000.
8.28 Bitcoin Short-term Reference:
Short entry point 112500-113500, stop loss at 118500, target below 113500.
Long entry point 107000-108000, stop loss at 500, defend at 105000, target above 109000.
8.28 Ethereum (ETH) Market Analysis Reference
Ethereum has also been linked to Bitcoin recently, and yesterday it similarly failed to rally. The current trend is weak, with the price retracing around the 4550 level. In the short term, it has touched the support at 4520, and the trend is entering a consolidation phase. However, the resistance above is slowly moving down. If the rebound cannot continue, once the support at 4500 is broken, there is a possibility of further testing the 4400 level.
On the 4-hour level: A long upper shadow has recently appeared (such as the bearish candle from 4658 to 4535), indicating selling pressure in the 4600-4650 area. On the daily level: After the long bullish candle on August 26 (4311-4633), there have been two consecutive days of retracement, forming a "cloud cover" pattern, which requires caution for short-term top risks. MACD: The 4-hour level DIF (4.42) has crossed below DEA (4.71), with the histogram turning negative, and a death cross at the daily level (216.72 crossing below 238.08), signaling a mid-term adjustment. EMA: The price has fallen below the 4-hour EMA7 (4577.63), and the daily EMA7 (4549.15) is flattening. The 30/120-day moving averages are still in a bullish arrangement but the gap is narrowing. The strategy for the day also suggests focusing on short positions during rebounds, with resistance around 4630-4670.
8.28 Ethereum Short-term Reference:
Light short at 4650-4600, stop loss at 30 points, target below 4550.
Long entry point 4450-4401, stop loss at 30 points, target above 4500.
There may be delays in sending articles, and 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 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 strategies, 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, articles may be delayed, risks are self-borne, manage 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, and we refuse to plagiarize and respect originality!
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