Warren Buffett once said, "If you are on the wrong road, running is of no use." Li Hui suggests that no matter how accurate your grasp of the market is, you should not over-leverage in contract trading. Risk control must come before profit. Entry decisions should be based on the breakthrough of support or resistance levels, avoiding frequent trading, and managing positions and profit expectations reasonably. Spend more time observing, patiently wait for the right opportunity to lower the cost of trial and error, enhance self-discipline and confidence, be prepared to fight, and avoid blind operations. Maintaining good trading habits and steadily making progress is the only way to profit in the market. Li Hui will continue to use professional knowledge to help every investor achieve wealth growth. Wishing everyone to achieve financial freedom in 2024, keep it up!
September 14th, Li Hui: Bitcoin evening market analysis and operational suggestions:
Yesterday's article on Bitcoin was not updated in time, and the long position layout did not provide a retracement opportunity, but the bullish direction was correct, and the target of 58900 was reached. The 59000-59300 range was also directly broken through, so you can reduce the position and continue to look for long positions.
The current candlestick is challenging the range of the daily EMA60-EMA80, and the short-term indicators are still very strong. Breaking through this range is not a big problem anymore. Therefore, only considering short positions at the top EMA120 and retracement line range, although the current bullish trend is very strong, Li Hui suggests that those who have already entered at a low position can hold, but those who have not entered should not blindly chase after long positions. This position is also quite critical. As the saying goes, do not chase after long positions when bullish, to avoid being trapped at high levels. If the short term provides a retracement opportunity, it is also prudent to consider entering at the EMA30 position.
Li Hui provides two suggested operational plans based on the above:
Suggest lightly entering long positions in the retracement range of 58500-58800; stop loss at 58400; target at 59900-60800. If the range is broken, continue to hold and look at 60900-61300 range.
Suggest entering short positions in the retracement range of 60500-60900 without breaking through; target at 59800-59100. If the range is directly broken, then continue to adjust the short position.
Article reviews may be delayed, and the market changes rapidly. Specific entry opportunities need to be combined with actual trading operations. Real-time notifications should be followed, and the suggested entry points in the article are for reference only. Do not over-leverage, and bring stop-loss and take-profit orders when entering. Take profits when the opportunity arises!
I, Li Hui, interpret world economic news, analyze global trends in the currency circle, and have in-depth research on BTC, ETH, LTC, DOT, EOS, BNB, SOL, and other currencies during my study and further education in the United States. For those who do not know how to operate, you are welcome to comment and leave a message!
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This article is exclusively published by (WeChat public account: Zhang Lihui), for reference only, at your own risk. May we remain humble and brave in the complex currency circle, fear no challenges, and be brave in exploration. Just as "The road ahead is long, I will seek and explore," I hope that we will keep pace with the times, draw wisdom, travel thousands of miles, experience the wind and rain, and comprehend life.
With Li Hui's guidance, may you seize opportunities, create value, remember the market's baptism, and stay true to your original aspiration. In the wave of digital currency, may we hold on to our beliefs, forge ahead, and jointly compose the future's brilliant chapter, sharing the joy of success. Let us work together to create brilliance in this investment journey full of challenges and opportunities!
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