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 improve the win rate. At the same time, investing is also a process of growth. Mr. Coin suggests that all cryptocurrency friends learn while trading, summarizing both profits and losses in a timely manner to deepen their understanding of risks and to plan the correct mindset. This way, risks can be reasonably avoided, and one can become a qualified investor.
7.9 Mr. Coin's Analysis Reference for Bitcoin (BTC)
Yesterday, Bitcoin's price retraced to around 108,000 and showed a slight rebound, continuously breaking through 109,000. After reaching the high of 109,100, it faced pressure and retraced, testing the upper gap multiple times without reopening it. Although the high has moved up today, there is clearly strong resistance above, and the market is currently under pressure, operating near the 108,800 position.
From the daily chart, yesterday's movement closed with a bullish candle, with back-and-forth tugging between bulls and bears, forming a wide range of fluctuations. Currently, due to the strong resistance above, the price is in a state of adjustment with bulls and bears starting to become entangled. The overall direction has not changed; if the market can break and stabilize around the strong resistance area of 109,500 during the day, the price is expected to break through the 110,000 line, overcoming the previous minor resistance.
On the four-hour chart, the Bollinger Bands are opening up, and the price is currently in a retracement rhythm due to multiple upward pressures. The bullish momentum has weakened, but the overall trend has not changed. Therefore, focus on the mid-track support at 108,000 and 106,500. As long as these levels are not broken, the market will maintain its adjustment, and there is hope for further breakthroughs. Conversely, if these levels are broken, the market will face a deep retracement, so everyone should prepare in advance. Before breaking the levels, one can grasp high short and low long positions.
7.9 Short-term Reference for Bitcoin:
Lower test entry point 110,000-109,000, stop loss at 111,500, target below 108,300,
Upper test entry point 106,500-107,200 long, stop loss 500, defend at 104,000, target above 107,800,
7.9 Mr. Coin's Analysis Reference for Ethereum (ETH)
Ethereum maintained a consolidation overall yesterday, rebounding strongly after retracing to the key support around 2,505. It subsequently broke through the 2,600 resistance area, and the price is now approaching 2,628 as expected. If the market can further break upwards, the price is expected to touch the previous minor resistance near 2,635.
From the daily chart, the range is continuously moving up, and all moving averages are also showing an upward trend. The support below is focused on the 2,555 line. As long as this area is not broken during the day, the short-term upward trend will not change. If the current trend can break and stabilize again, the upper resistance will move up to around 2,670.
On the short-term hourly chart, the Bollinger Bands are opening up, and the price is under pressure near 2,628. The short-term bulls and bears are in a state of entanglement. If the market cannot break the previous high of 2,538 for a long time, the upper space will open again, and there is a risk of price retracement under pressure. Therefore, it is not recommended to blindly chase after the rise before breaking the previous high; be cautious of the market retracing. In terms of operations, it is recommended to focus on long positions during retracements, with support below at 2,550-2,500.
Daily more real-time trading strategies, online technical learning, and exit strategies can be followed on the mentor's public account (Mr. Coin) for access. The first ten each day can receive free exit strategies.
7.9 Short-term Reference for Ethereum:
Lower test entry point 2,620-2,675, stop loss at 2,780, target below 2,580,
Upper test entry point 2,555-2,505, stop loss 30 points, target above 2,585,
There may be delays in sending articles, and strategy suggestions are for reference only. The market changes rapidly; no matter how high the judgment of the market is, always set stop-loss and take-profit levels to secure profits.
For more real-time trades, you can follow my public 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 coins. For those who are not familiar with trading, you are welcome to study and learn together. Daily more real-time trading strategies, online technical learning, and exit strategies can be followed on the mentor's public account (Mr. Coin) for access. The first ten each day can receive free exit strategies.
Exclusive opinions, there may be delays in sending articles, risks are self-borne, manage positions reasonably, and avoid heavy or full positions. Mr. Coin wishes all fans to achieve financial freedom, moving forward together. 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, sharpen your skills, and be ready to set off at any time. Let's go!
—— This article is written by Mr. Coin, plagiarism is refused, and original content is respected!
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