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 suggests that all cryptocurrency friends should 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.

8.29 Bitcoin (BTC) Market Analysis Reference

Yesterday, Bitcoin's market surged and then retraced, with the upward momentum failing to break through. The bulls are further weakening. There was a slight rebound during the day, but the key resistance above has not been broken. Currently, it is under pressure near the 113500 position, with the price running around 112000. The rebound strength is gradually increasing, but if it breaks below the low support of 111000, there is a possibility of further retracement during the day, so everyone should prepare in advance. Currently, short-term signals indicate a retracement, and the trend is leaning downward, so the suggestion is to focus on short positions during rebounds. Pay attention to the resistance near the 113500 position above and the support near the 111000 position below.

8.29 Bitcoin Short-term Reference:

Short entry point 112800-113800, stop loss at 115500, target below 111500,

Long entry point 110000-111000, stop loss at 500, target above 112000, stop loss at 108000.

8.29 Ethereum (ETH) Market Analysis Reference

Ethereum continued its rebound during the day, with the market moving upward. Unfortunately, it did not break through the previous resistance area, currently facing pressure again at the 4633 position, with the price running around 4475. This retracement has broken the upward trend and reversed the situation. As long as the retracement does not break below the support line of 4400, it is expected that the market will enter a consolidation phase in the short term, so everyone should not blindly look bearish.

On the hourly level, a long upper shadow has appeared (as seen after the high of 4616.02 at 20:00 on August 28), indicating selling pressure in the 4580-4630 area. On the daily level, there have been three consecutive days of bearish closes (August 27-29), and it has broken below the previous low of 4480, with short positions dominating in the short term. MACD: The 4-hour level shows a death cross of DIF and DEA below the zero axis (-15.89/-3.98), and the daily MACD histogram is shrinking (-64.24), indicating weakening momentum. EMA: The price has broken below the 4-hour EMA7 (4517) and EMA30 (4549), with the daily EMA7 (4524) acting as dynamic resistance. Currently, the short-term trend is entering a consolidation phase, so our strategy is to go short at high points and long at low points. Pay attention to the resistance near the 4630 position above and the support near the 4400 position below.

8.29 Ethereum Short-term Reference:

Short entry point 4650-4600, stop loss at 30 points, target below 4550,

Long entry point 4350-4401, stop loss at 30 points, target above 4500.

There may be delays in sending articles, 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 stop-loss and take-profit levels to secure your gains. For more real-time strategies and online technical learning, you can follow the mentor's public account (Mr. Coin in the cryptocurrency circle) to get the addition method: the first ten each day can receive free strategies for resolving positions.

For more real-time strategies daily, you can follow my public account. You can learn online about market techniques, resolving positions, etc. I have researched the market for many years, studying the major trends in the cryptocurrency circle, and have studied in the U.S. multiple times, 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 in sending, risks are self-borne, manage your positions reasonably, and 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 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, no plagiarism, respect originality!

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