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. Additionally, investing is a process of growth. Mr. Coin suggests that all cryptocurrency friends should learn while trading, summarizing both profits and losses in a timely manner to deepen their understanding of risks and develop a correct mindset. This way, risks can be reasonably avoided, and one can become a qualified investor.

Mr. Coin's Cryptocurrency Market Analysis Reference: Bitcoin (BTC) on August 3rd

Currently, the market is temporarily entering a phase of repair and consolidation, with short-term trends mainly characterized by weak fluctuations. After a few days of market adjustment, it has begun to enter a period of calm. Therefore, the daily strategy is to look for suitable opportunities to short at high points and long at low points. Additionally, note that after a few days of pullback, market panic is strong, and bullish sentiment has dissipated significantly. If a good rebound cannot be achieved subsequently, there is a possibility that the downward trend will continue. I hope all cryptocurrency friends are prepared.

The strength of the intraday rebound is weakening, with short-term resistance slowly moving downwards. If the price cannot break through the resistance area of 114,000-411,500, it is expected that the price will continue to decline. The current trend has already touched the support line of 112,000, with four consecutive bearish candles on the hourly chart, indicating strong bearish sentiment. Therefore, the trading suggestion is to pay attention to the strength of the 112,000 support, and do not enter long positions for now. If it breaks down, follow up with short positions. If it reaches around 111,500 again, continue to follow up with short positions, aiming for a short-term target of 500 points.

Bitcoin Market Analysis Reference on August 1st:

Short position entry point in the range of 113,500-114,501, with a stop loss at 126,500 and a target below 111,500.

Long position entry point in the range of 110,500-199,500, with a stop loss at 108,500 and a target above 111,000.

Mr. Coin's Cryptocurrency Market Analysis Reference: Ethereum (ETH) on August 3rd

Ethereum faced resistance and retraced after reaching 3,530, failing multiple attempts to break the resistance area. The intraday pullback has broken short-term support, and the price has shown a strong retracement, temporarily alleviating the downward trend at the low of 3,367. The current price is rebounding around 3,400, with significant volatility in the short-term price movement, and short positions have already broken downwards. Therefore, the subsequent trading suggestion is to focus on short positions during rebounds, with long positions as a supplement.

The 4-hour chart shows a series of consecutive bearish candles. On August 2nd at 04:00, a long lower shadow tested the low of 3,368 but failed to rebound. The daily chart has formed a three consecutive bearish candle structure, with the closing price on August 3rd breaking through the 3,400 level, confirming short-term bearish dominance. MACD: The 4-hour level DIF and DEA remain below the zero axis, with the MACD histogram expanding to -49.72. After the daily golden cross failed, it has reopened downwards. EMA: The price has fallen below all EMAs (7/30/120), with 3,449 becoming a resistance level on the 4-hour chart, and 3,557 as strong resistance on the daily chart. Pay attention to resistance around 3,560 above and support around 3,320 below.

Short-term Reference for Ethereum on August 3rd:

Short position entry point in the range of 3,530-3,580, with a stop loss at 3,780 and a target below 3,480.

Long position entry point in the range of 3,320-3,270, with a stop loss at 3,100 and a target above 2,400.

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 judgment, it is essential to manage take-profit and stop-loss levels properly. For more real-time strategies and online technical learning, you can 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 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 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. 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 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, prepare well, and be ready to set off at any time. Let's go!

—— This article is written by Mr. Coin, refusing plagiarism and respecting originality!

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