Cryptocurrency trading is a long-term plan, not something that can be achieved overnight, so one should not be too hasty. 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 advises all cryptocurrency friends to learn while trading, and to summarize their 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.
8.11 Bitcoin (BTC) Market Analysis Reference
Bitcoin has shown strong upward momentum in the past two days. After firmly standing above the 120,000 mark, it broke through multiple layers of resistance, with prices further testing upward, approaching the year's high. The upward trend continued in the early hours of the day, and after breaking the key 120,000 level, the price surged directly to around 112,400, with the market skyrocketing by over a thousand points in a short time. Subsequently, the price continued to rise, and after reaching the high point of 112,400, it began to pull back, currently operating around the 112,000 mark.
From the daily chart, the K-line has been continuously bullish, with the upper high points being refreshed. The price has increased by over 3,000 points during the day, breaking the recent wide-ranging fluctuation pattern. The price has completely exited the Bollinger Bands range and is operating in the upper area, with bullish sentiment continuously rising. There is still potential for further upward movement in the short term. Mr. Coin suggests that everyone should trade in the direction of the trend, managing stop losses and take profits well, and controlling risks. If Bitcoin continues to rise, the price is expected to refresh historical highs again, maintaining a one-sided upward trend, with further upward potential during the day. It is recommended to focus on buying on dips, and to try short positions with light positions after new highs.
8.11 Bitcoin Short-term Reference:
Short position entry point 123,300-124,300, stop loss at 125,500, target below 121,500.
Long position entry point 120,000-121,000, stop loss at 500, defend at 119,000, target above 122,000.
8.11 Ethereum (ETH) Market Analysis Reference
Ethereum has been continuously bullish recently, with consecutive daily gains. The rebound strength is stronger than before, currently touching the upper Bollinger Band, slightly under pressure around 4,350. After a pullback yesterday, the price has increased by over 200 points, continuing the breakout upward trend. Therefore, Mr. Coin suggests that one should trade long in the direction of the trend today, and temporarily refrain from entering short positions.
On the short-term hourly chart, all moving averages are in an upward posture, but the price has repeatedly faced resistance above 4,330, causing the upward momentum to slow down. Currently, it is under slight pressure and consolidating, but the upward trend has not changed. Additionally, the KDJ indicator shows upward divergence, and the MACD is in a golden cross maintaining an upward trend. Therefore, if the 4,350 resistance is broken, the price is expected to continue rising, with short-term support to watch at around 4,160.
8.11 Ethereum Short-term Reference:
It is recommended to wait and see for short positions.
Long position entry point 4,200-4,151, stop loss at 30 points, target above 4,300.
There may be delays in sending articles, and strategy suggestions are for reference only. The market changes rapidly, and regardless of how confident one is in market judgment, stop losses and take profits must be managed well. For more real-time trading strategies, online technical learning, and exit strategies, 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 exit strategies.
For more real-time trades, you can follow my public account to get online technical learning, exit strategies, 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 have delays, risks are self-borne, 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 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. Keep going!
—— This article is written by Mr. Coin in the cryptocurrency circle, no plagiarism, respect originality!
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