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 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.

8.31 Bitcoin (BTC) Market Analysis Reference

Bitcoin touched a low of around 107350 during the day, and the subsequent pullback was not strong. The price rebounded near 107350, and the trend began to enter a consolidation phase. Short-term trading volume is sluggish, with the price fluctuating around the 108500 line. Currently, the price is running near 108800, with both bulls and bears in a stalemate. It is expected that the consolidation trend will continue for some time, and all cryptocurrency friends are advised not to chase highs or panic sell.

From the short-term hourly chart, although the trend has refreshed the previous low and rebounded, the upper resistance is slowly moving down. If it cannot break through the 110000 resistance area, there is a possibility of a pullback to lower support. Therefore, it is not recommended to blindly chase highs before breaking the level; a steady approach of shorting high and longing low is advisable. The upper resistance is at the 110000 area, and the lower support is around 107500. When touching support or resistance, consider entering trades, with take profit targets in the 500-700 point range.

8.31 Bitcoin Short-term Reference:

Short entry point 111800-110800, stop loss at 115500, target below 111500,

Long entry point 106500-107500, stop loss 500, add at 104000, target above 109000,

8.31 Ethereum (ETH) Market Analysis Reference

After a pullback in the morning, Ethereum's trend entered a consolidation phase, with a low around 4255 during the day. The price then rebounded, currently fluctuating around the 4350 line, with both bulls and bears in a stalemate. The consolidation pattern has not changed significantly and is expected to continue for some time, so our strategy is to short high and long low.

From the short-term hourly chart, the Bollinger Bands are in a contracting posture, with the trend operating in the middle-lower band area. However, after several failed upward attempts, the upward momentum is beginning to weaken, so it is not recommended to blindly chase longs in subsequent operations, as the price may undergo another pullback. Currently, the short-term trend is a slight consolidation, and one can appropriately seize a range profit. The upper resistance is around 4450, and the lower support is around 4260.

8.31 Ethereum Short-term Reference:

Short entry 4450-4500, stop loss 30 points, target below 4400,

Long entry point 4260-4201, stop loss 30 points, target above 4350,

There may be delays in article posting, and strategy suggestions are for reference only. The market changes rapidly, and regardless of how confident one is in market judgment, always set take profit and stop loss levels. For more real-time strategies and online technical learning, 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 for online market technical learning, resolving positions, etc. 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. I welcome cryptocurrency friends who are unsure about trading to study and learn together.

Exclusive opinions, article posting 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. Let's go!

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

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