Cryptocurrency News
April 25th Hot Topics:
1. CEO of EOS Network Foundation proposes new token economics: plans to set the supply limit at 21 billion coins
2. The number of addresses holding at least $1000 worth of Bitcoin is on the rise
3. Grayscale's GBTC saw an outflow of $130 million yesterday
4. Report: Bitcoin's inflation rate is now lower than that of gold
5. S&P Global: If the stablecoin bill is passed, it will bring competitive advantages to banks
Trading Insights
The best remedy after experiencing consecutive losses
Almost all traders have experienced consecutive losses, during which they were unable to grasp the market's rhythm and faced repeated failures.
When you encounter consecutive losses, you must not try harder to reverse the situation.
The best solution when your trading goes from bad to worse is usually to liquidate all positions (or protect your positions by setting stop-loss orders, after which there is no need to make trading decisions, and everything operates based on the gains and losses of the stop-loss orders), then stop trading, take a few days off, or even a longer break.
Liquidating positions can help you regain objectivity.
If you stay in the market at this time and continue trading, you will be unable to remain objective.
Because each loss further undermines your confidence, consecutive losses can lead to negative emotions, a depressed will, and a languid spirit. Resting physically can eliminate all negative and pessimistic influences.
After resting, when you start trading again, you should maintain a smaller trading size; until you regain confidence, then you can increase your trading size.
Search for the public account: "Big White Coin Forum"
BTC
Analysis
Yesterday, the price of Bitcoin rebounded to the 67060 level but was resisted, and then fell back due to the impact of the news, with the lowest support rebounding to the 63600 level. Currently, the price is running near 64200. The trend on the four-hour level is still good, stabilizing above 65500 overall. Unexpectedly, the impact of the news led to a large bearish engulfing candle that swallowed half of the gains. In the short term, the market has temporarily stopped falling and there is a demand for a rebound. If it can close with a bullish candle, it is expected to oscillate and rise during the day. Looking at the daily chart, it is in a rising stage with limited space for a pullback, and the probability of breaking the previous low is small. The pullback is an opportunity. The current trend is biased towards oscillation, and the rise is only a matter of time. Be patient and hold for the opportunity. Resistance above is at 65000-65800, and support below is at 63800-63000.
ETH
Analysis
Ethereum rebounded strongly during the day yesterday, reaching a high of 3293 but was resisted, and then the price fell with consecutive bearish candles, reaching a low of 3105 for support. Currently, the price is running near 3157. The four-hour level is supported by the MA60, and the retracement bottom is gradually rising. In the short term, there are signs of stabilization after the decline, with attention to the resistance of the MA30 above. The probability of a breakthrough is small, and it is expected to maintain a volatile and corrective trend during the day. Looking at the daily chart, a pullback broke the consecutive bullish trend, which is considered a normal adjustment in the market. The space for a retracement is limited, and the probability of holding the key support at 3050 is quite high, as it is supported by large funds. Continue to maintain the strategy of buying on dips. Resistance above is at 3170-3230, and support below is at 3100-3050.
Disclaimer: The above content is for personal reference only and does not constitute specific operational advice, nor does it bear legal responsibility. Market conditions change rapidly, and the article has a certain lag. If there is anything you don't understand, feel free to consult.
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