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 learn while trading, summarizing both profits 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.

Mr. Coin's Cryptocurrency Market Analysis Reference for Bitcoin (BTC) on August 1st:

Bitcoin maintained a downward trend overall yesterday, breaking the previous range of fluctuations, with support moving down to the 116,000 position. The price continued to adjust in the early hours of the day, currently running around the 116,500 line. The daily chart still shows a weak consolidation, and if it breaks below the 116,000 short-term support again, it is expected that the market will further retract downwards. Mr. Coin advises all cryptocurrency friends to be prepared.

The 4-hour chart shows consecutive bearish candles, with the latest K-line breaking the previous low of 116,763.43, forming a short-term downward trend. The daily chart shows consecutive bearish closes from July 28th to 31st, accompanied by increased volume, indicating significant selling pressure. MACD: The 4-hour level shows a death cross between the DIF and DEA lines, accelerating downward, with the histogram expanding to -252.63, indicating strong bearish momentum; the daily MACD histogram has turned from positive to negative (-1143.2), indicating a weakening trend. EMA: The price has broken below the 4-hour EMA7 (117,530.94) and EMA30 (117,950.06), and the daily EMA7 (117,744.07) is turning downward, indicating significant short-term moving average pressure. Overall, the market has been alternating between bullish and bearish recently, with no breakthrough above the 120,000 mark and no drop below the 115,000 support, so a weak consolidation pattern is expected to continue. There is still a risk of price retracting to lower support during the day, and it is recommended to operate with high shorts and low longs in a wide range.

For more real-time trading strategies, online technical learning, and exit strategies, you can follow the mentor's public account (Mr. Coin) for access. The first ten daily participants can receive free exit strategies.

Short-term Market Analysis Reference for Bitcoin on August 1st:

Short position entry point in the 118,500-119,501 range, with a stop loss at 121,500 and a stop loss of 500, targeting below 117,500.

Long position entry point in the 114,500-115,500 range, with a stop loss at 112,500 and a stop loss of 500 points, targeting above 116,500.

Mr. Coin's Cryptocurrency Market Analysis Reference for Ethereum (ETH) on August 1st:

Ethereum is also experiencing a rebound today, with the current price approaching the 3,880 line under pressure to adjust, having touched a low of around 3,716 in the early hours of the day. The short-term volatility is beginning to weaken, and the current price is around 3,735. The daily chart focuses on the 3,830 resistance. If this rebound does not break and stabilize, there is a risk of continued adjustment during the day, so all cryptocurrency friends should be prepared in advance.

Looking at the short-term hourly chart, there has been a pullback today, recovering previous gains, and the current trend is hovering near the middle-lower track. The upward momentum is beginning to weaken, but the Bollinger Bands are narrowing. In the short term, both bulls and bears are in a stalemate, but the trend is characterized by slow rises and fast declines, indicating a phase of downward oscillation. Therefore, it is recommended to focus on short positions during rebounds and support long positions during pullbacks, following the trend with short positions if the price breaks.

Short-term Market Analysis Reference for Ethereum on August 1st:

Long position entry point in the 3,830-3,780 range, with a stop loss at 3,980 and a stop loss of 30 points, targeting below 3,750.

Short position entry point in the 3,620-3,670 range, with a stop loss at 3,500, targeting above 2,700.

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 judgments, it is essential to manage take-profit and stop-loss levels properly. For more real-time trading strategies, online technical learning, and exit strategies, you can follow the mentor's public account (Mr. Coin) for access. The first ten daily participants can receive free exit strategies.

For more real-time trading 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 cryptocurrencies. For those who are not familiar with trading, you are welcome to study and learn together.

This article is exclusively shared by Mr. Coin and represents his unique views. There may be delays in sending the article, and risks are to be borne by the reader. Please 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 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. Let's go!

—— This article is written by Mr. Coin, and we refuse to plagiarize and respect originality!

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