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 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.

8.20 Bitcoin (BTC) Market Analysis Reference

Bitcoin faced resistance at the key level of 116,000 in the evening session, and the bullish momentum began to significantly diminish, causing the price to drop sharply. It has now broken below the support level of 114,000, touching the low of around 113,000. If it breaks down further, the support will shift to the previous low, and the market will enter a correction phase, so all cryptocurrency friends should prepare in advance.

From the short-term hourly chart, the trend shows slow rises and rapid declines, with the market within a downward trajectory. Currently, although there is a rebound near the 113,000 level, the subsequent bullish supply is insufficient, and the price shows signs of weakening again. Therefore, in terms of operations, the short-term focus should be on short positions, with long positions as a supplement. The upper resistance to watch is 115,000, and the lower support is 111,800.

8.20 Bitcoin Short-term Reference:

Short entry point 115,300-116,300, stop loss at 121,500, target below 117,500.

Long entry point 111,500-110,200, stop loss at 500, defend at 109,000, target above 112,400.

There may be delays in sending this article, 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 orders properly to secure profits.

For more real-time trades daily, you can follow my public account to obtain information. You can learn technical analysis online, resolve 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. focusing on analyzing and guiding BTC, ETH, DOT, LTC, FIL, EOS, BCH, ETC, and other cryptocurrencies. For those who are unsure about trading, you are welcome to study and learn together. For more real-time trading strategies, online technical learning, and position resolution, you can follow the mentor's public account (Mr. Coin in the cryptocurrency circle) to get the addition method: the first ten people each day can receive free position resolution strategies.

This is an exclusive viewpoint. There may be delays in sending this article, and the 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, to move forward together, and to keep striving. 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 in the cryptocurrency circle, no plagiarism, respect originality!

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