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 advises all cryptocurrency friends to 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.

11.16 Bitcoin Market Analysis Reference

After multiple attempts to break through the resistance at 96,500, the upward momentum of the price began to weaken. The evening trend faced pressure and retraced, with the price running around 95,500 at the time of writing. The overall market trend has entered a weak oscillation rhythm, with both bulls and bears in a stalemate. The focus will be on the breakout situation. If the short-term resistance above cannot be broken, the weak trend will not change.

On the short-term hourly chart, the Bollinger Bands are narrowing, and the price is under pressure and continuously declining, with the coin price recovering after a significant drop. Although the market has not declined further, the subsequent bullish supply is clearly insufficient. If the price cannot break through the 98,000 level to recover the previous drop, there is a risk of further support testing in the future. I hope all cryptocurrency friends are prepared in advance. The overall trend of Bitcoin remains in a stalemate. Since the market has not broken upward as expected, the increase has not continued. The bullish momentum in the evening has begun to weaken, and short-term signals for a retracement have been given. However, the support at the previous low has not been broken, so we will maintain a light position with high shorts and low longs.

11.16 Bitcoin Short-term Trading Strategy Reference:

Short entry point 97,500-98,500, stop loss at 100,500, take profit target below 96,800.

Long entry point 94,800-93,800, stop loss at 500, defend at 95,500, take profit target above 99,300.

There may be a delay in the article's release, and the strategy suggestions are for reference only. The market changes rapidly, and regardless of how confident one is in market judgment, stop-loss and take-profit measures must be in place. Secure your profits. For more real-time trading strategies and online technical learning, follow the mentor's public account (Mr. Coin Discusses Cryptocurrency) for access. The first ten daily followers can receive free strategies for recovering losses.

For more real-time trades, you can follow the public account (Mr. Coin Discusses Cryptocurrency) for online market technical learning and recovery strategies. 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 opinions, the article may have delays, and risks are borne by the reader. Manage your 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, sharpen your skills, 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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