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 losses in the short term, 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 advises all cryptocurrency friends to learn while trading, summarizing both profits and losses in a timely manner, deepening the understanding of risks, and planning the correct mindset. This way, risks can be reasonably avoided, and one can become a qualified investor.
9.8 Bitcoin (BTC) Market Analysis Reference
Bitcoin continued to consolidate yesterday, reaching a high of around 111375 and a low near the support level of 110850. The current price is running around 111200, with weak upward momentum during the day and overall market fluctuations being small. Taking advantage of the narrow range, the focus should be on the resistance above 112000. Before a breakthrough stabilizes, the expected consolidation will continue for some time.
From the short-term hourly chart, the Bollinger Bands are slowly narrowing, with the price running near the middle band. Both bulls and bears are in a stalemate, showing signs of sideways movement in the short term. Currently, the market lacks sufficient volume, and the short-term consolidation is expected to continue. Our strategy is to go short at high points and long at low points. The upper resistance is focused on the range of 111200-112500, while the lower support is around 109000-110000.
9.8 Bitcoin Short-term Reference:
Short entry point 111500-112500, stop loss at 114200, target below 111000.
Long entry point 110000-109000, stop loss at 500, defend at 107000, target above 111000.
There may be delays in article posting, and the strategy suggestions are for reference only. The market changes rapidly, and regardless of how confident one is in market judgment, it is essential to manage take-profit and stop-loss effectively. For more real-time trading strategies, online technical learning, and exit strategies, you can follow the mentor's public account (Mr. Coin in the cryptocurrency circle) to get the addition method: the first ten each day can receive free exit strategy advice.
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 circle, and have studied in the U.S. multiple times, mainly analyzing and guiding BTC, ETH, DOT, LTC, FIL, EOS, BCH, ETC, and other coins. For those who are unsure about trading, you are welcome to study and learn together.
Exclusive views, there may be delays in article posting, risks are self-borne, and it is important to control positions reasonably. Do not operate with heavy or full positions. Mr. Coin wishes all fans to achieve financial freedom, to move forward together and cheer each other on. In the depths of time, hold onto understanding lightly. 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 in the cryptocurrency circle, no plagiarism, respect for originality!
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