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 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 probability of success. 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.

Mr. Coin's Cryptocurrency Market Analysis Reference for Bitcoin (BTC) on 10.31

Yesterday, Bitcoin's upward movement was weak, with both bulls and bears in a stalemate, maintaining a wide range of fluctuations. The daily range has slightly compressed downward, but the support at the 71300 level has not been broken, and the market has not successfully broken out of its current position, still maintaining a fluctuating pattern.

From the daily chart, there is a high probability of a bearish close today, but the support below has not been broken, and the support level has moved up to the 61300 line. As long as the intraday pullback does not break this area, there is a possibility of a reversal and upward movement in the subsequent market, and the overall direction remains unchanged. Therefore, Mr. Coin advises all cryptocurrency friends to prepare in advance.

On the short-term hourly chart, the current high is under pressure at the 72900 level, with a slight price pullback. The market is operating in the upper-middle range, with the upper Bollinger Band slightly opening, and the support below is slowly moving up. As long as the price does not break below the middle band, the market is likely to further test upward. Conversely, the price may pull back to the strong support at the 70000 level. The overall trend is leaning towards upward movement, so it is recommended that everyone focus on long positions, with short positions as a supplement. If a new high is broken, one can consider following up to capture short-term profits.

Short-term Reference for Bitcoin on 10.31:

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 daily can receive free exit strategies.

Long position: Buy in the 71300-71800 range, with a stop loss at 70000, and a target above 72200.

Short position: Sell in the 73800-73500 range, with a target near 72500, and a stop loss at 74900.

Short-term Reference for Ethereum on 10.31:

Short position: Sell in the 2701-2740 range, with a stop loss at 2850, and a target below 2650.

Long position: Focus on the 2520-2560 range, with a stop loss of 50 points, and a target above 2620.

The article may have delays in sending, and the strategy suggestions are for reference only. The market changes rapidly, so regardless of how confident you are in your market judgment, always set stop-loss and take-profit 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 BTC, ETH, DOT, LTC, FIL, EOS, BCH, ETC, and other cryptocurrencies. I welcome all cryptocurrency friends who are unsure about trading to study and learn together.

This article is exclusively shared by Mr. Coin and represents his unique perspective. The article may have delays in sending, and risks are to be borne by the reader. When trading, 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. Keep going!

—— This article is written by Mr. Coin, and plagiarism is refused; respect originality!

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