Cryptocurrency trading is a long-term plan; it is not about immediate results, so one should not be overly anxious. 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 suggests that all cryptocurrency friends should learn while trading, summarizing both gains and losses in a timely manner to deepen their understanding of risks and develop the correct mindset. This way, risks can be reasonably avoided, and one can become a qualified investor.

Mr. Coin's Cryptocurrency Market Analysis Reference for Bitcoin (BTC) on 10.23

Yesterday, after Bitcoin's price retraced to around 66500 and rebounded, it rose to around 67800 but faced resistance and pulled back again. Subsequently, both bulls and bears began to become entrenched, and the market entered a consolidation phase. Today, the upward momentum has weakened, but fortunately, the support around 66500 has not been broken, and the short-term trend remains in a fluctuating pattern. It is recommended to pay attention to the breakout situation during the day.

From the daily chart perspective, there is a probability of a bearish candle forming, with the high continually moving down. Currently, it is under pressure as it approaches the middle band of the Bollinger Bands for support. There is a high likelihood that it will test the previous day's starting point at 65500. If it does not break this level, there is a chance for a rebound back above 68000, and the short-term fluctuating pattern will not change. Therefore, the focus for today should be on the support situation at this level.

On the four-hour chart, the Bollinger Bands are opening up, and the trend is currently in a pullback rhythm due to multiple upward pressures. The bullish momentum has weakened, and the support below is slowly moving down. However, the overall trend has not changed, so the focus should be on the support level at 66500. As long as it does not break this level, the market will maintain its adjustment, and there is hope for further breakthroughs. Conversely, if it breaks, the market will face a deep pullback, so everyone should be prepared in advance.

For more real-time trading strategies, online technical learning, and exit strategies, you can follow the official account of Mr. Coin (币圈币先生) to get the addition method: the first ten people each day can receive free exit strategies.

Short-term Reference for Bitcoin on 10.23:

Long position: Buy in the range of 66100-66600, with a stop-loss at 65000 and a target above 67300.

Short position: Sell in the range of 68800-68300, with a target near 67500, stop-loss at 69900.

Short-term Reference for Ethereum on 10.23:

Short position: Sell in the range of 2661-2700, with a stop-loss at 2850 and a target below 2610.

Long position: Focus on the range of 2550-2590, with a stop-loss of 50 points and a target above 2660.

The sending of articles may be delayed, and the strategy suggestions are for reference only. The market changes rapidly, so regardless of how confident you are in your market judgment, always manage your take-profit and stop-loss levels to secure your gains.

For more real-time trades, you can follow my official account for online 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. focusing on analyzing and guiding BTC, ETH, DOT, LTC, FIL, EOS, BCH, ETC, and other cryptocurrencies. For those who are unsure about trading, you are welcome to study and learn together.

This article is exclusively shared by Mr. Coin and represents his unique perspective. The article may be delayed in sending, and risks are to be borne by the reader. Manage your positions reasonably and avoid heavy or full positions. Mr. Coin wishes all fans to achieve financial freedom, to move forward together, and to keep striving. 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, no plagiarism allowed, respect originality!

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