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, 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.
11.7 Bitcoin (BTC) Market Analysis Reference
Bitcoin's market broke downwards from the evening to the early morning, with prices falling below the support level of 102,000, resulting in a drop of over 2,000 points. The market trend has weakened again, and the decline continues to persist, currently approaching the 100,000 mark. If it falls further today, there is a risk of testing the 100,000 mark again. As of now, bearish sentiment is strong, with the MACD and Stochastic indicators showing downward momentum. Therefore, the market remains weak, and it is recommended to trade in the direction of the trend.
Looking at the short-term hourly chart, the Bollinger Bands are opening downwards, and the market is operating in the middle to lower band area. Currently, the market is experiencing a pullback after a rise, and the price is under pressure entering a correction phase, with the current price around 101,200. It is expected that the price will further test downwards, with a possibility of retracing to test the 100,000 support. All cryptocurrency friends are advised to prepare in advance. The key support below is at the 100,000 level; if it breaks down, the downward trend will continue, and one can trade in that direction.
11.7 Bitcoin Short-term Reference:
Short position entry point 103,500-104,500, stop loss at 106,500, target below 102,500.
Long position entry point 100,500-99,500, stop loss at 500, defend at 98,500, target above 101,500.
There may be a delay in sending this article; the strategy suggestions are for reference only. The market changes rapidly, and regardless of how confident one is in market judgments, it is essential to manage take-profit and stop-loss levels properly. For more real-time trading strategies, online technical learning, and exit strategies, you can follow the mentor's public account (Mr. Coin Discusses Currency) for ways to add: the first ten each day can receive free exit strategies.
For more real-time trades daily, 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 space, and have studied extensively in the U.S., 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 a delay in sending this article, risks are self-borne, and it is important to control positions reasonably. Do not operate with heavy or full positions. Mr. Coin wishes all fans to achieve financial freedom, to move forward together and cheer each other on. 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, 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 community, plagiarism is refused, and original work is respected!
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