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.

10.29 Bitcoin (BTC) Market Analysis Reference

Recently, Bitcoin has rebounded strongly from a low of around 106,000. The market has warmed up in the past few days, and prices have risen. From a technical perspective, this trend is a rebound recovery process after a significant drop. Since the previous decline in Bitcoin exceeded two points, the short-term recovery strength is also relatively strong. Mr. Coin reminds everyone not to mistake this rebound of several thousand points as a signal of a bullish reversal. In fact, from the daily chart perspective, if the short-term rebound does not break and stabilize above 116,000, the downward trend will still exist. Therefore, do not assume that a temporary market recovery indicates a reversal signal.

On the short-term hourly chart, the market has reached a high of 116,380 and is under pressure to pull back. The price is currently testing downward, with a decline of over 2,000 points, reaching below the 113,500 area. The trend shows a back-and-forth movement between bulls and bears, with significant short-term volatility. The focus should be on the support at the lower boundary of 111,500. If it does not break, the market is expected to rebound, and the price may continue to test the 116,000 level. Conversely, if it breaks below 111,500, there is a risk of further downward movement, so all cryptocurrency friends should prepare in advance. The upper resistance in the short term is still focused on the stabilization around the 116,000 level.

10.29 Bitcoin Short-term Reference:

Short position entry point 115,500-116,500, stop loss at 118,800, target below 114,300.

Long position entry point 111,500-112,500, stop loss at 500, target above 113,300, with a defense at 108,000.

There may be a delay in the article's release; 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 orders properly. For more real-time trading strategies and online technical learning, follow the mentor's public account (Mr. Coin) for ways to add: the first ten each day can receive free strategies for resolving positions.

For more real-time trades, you can follow my public account for online market technical learning and position resolution. I have researched the market for many years, studying the major trends in the cryptocurrency space, 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 unsure about trading, you are welcome to study and learn together.

Exclusive views, there may be a delay in the article's release, and risks are to be borne by oneself. Manage your positions reasonably and avoid heavy or full positions. Mr. Coin wishes all fans to achieve financial freedom, to move forward together, and to keep pushing. 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 from the cryptocurrency community, no plagiarism, respect originality!

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