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 losses in the short term, 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 the understanding of risks, and planning the correct mindset. This way, risks can be reasonably avoided, and one can become a qualified investor.

10.11 Bitcoin (BTC) Market Analysis Reference

The rebound strength of Bitcoin has weakened during the day, with short-term resistance slowly moving downwards. The market is expected to break down and explore lower levels from the evening to the early morning, with support moving downwards. Overall, the trend remains weak, so we need to be cautious of prices breaking down and further testing lower levels, which could lead to a continuation of the daily downtrend. As of the time of writing, the price has pulled back to around 115800, currently near the daily mid-axis support at around 116800.

Looking at the short-term hourly chart, the Bollinger Bands are opening downwards. During the evening to early morning, there has been a pullback of over 7000 points, with the price dropping from a high of around 112500 to the 115800 level. The short-term price fluctuations are significant, indicating the strength of this pullback. The focus should be on the daily mid-axis line; if it cannot stabilize effectively, the price is expected to decline further. A short position can be followed if it breaks down, but be cautious about taking profits. The short-term trend is quite weak, and further pullbacks are expected, so it is not advisable to go long for now; it is better to wait for a rebound to enter. The upper resistance to watch is around 119000, while the lower support is around 115200.

10.11 Bitcoin Short-term Reference:

Short position entry point 117800-118800, stop loss at 120000, take profit target below 116500.

Long position entry point 115200-114000, stop loss at 500, defend at 112500, take profit target above 116500.

There may be delays in sending the article; the strategy suggestions are for reference only. The market changes rapidly, and regardless of how confident you are in your market judgment, always set stop-loss and take-profit levels. 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) for ways to add: the first ten each day can receive free exit strategies.

For more real-time trades, you can follow my public account for online market 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, there may be delays in sending the article, risks are self-borne, 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 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, prepare well, 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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