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 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.
10.9 Bitcoin (BTC) Market Analysis Reference
Bitcoin has pulled back and surged during the day, with the price maintaining above the 120,000 area. Currently, the short-term price is in consolidation, with both bulls and bears operating near the 4-hour midline, making the pattern unclear. Additionally, the short-term price volatility is strong, so Mr. Coin suggests waiting for support or resistance to be touched before considering entry.
Recently, a large bullish candle broke through the 123,000 round number on the 4-hour level and quickly pulled back, forming a long upper shadow structure. From October 08, 00:00 to October 09, 00:00, three consecutive candlesticks with bodies exceeding 1,000 points formed a sharp rise pattern. On the daily level, the high of 126,199 on October 06 and the high of 125,126 on October 07 formed a double top prototype, but the close on October 08 re-established above the key level of 123,000, breaking the short-term bearish signal. MACD: On the 4-hour level, the DIF (312) crossed below the DEA (485), and the histogram turned green and expanded; however, the daily level still maintains a golden cross state, and the weekly MACD is in a strong zone above the zero axis. EMA: The price found support at the EMA30 (122,309) on the 4-hour level, while the daily EMA7 (122,014) and EMA30 (117,364) are in a bullish arrangement, with the 120-day moving average (112,442) serving as strong long-term support. The upper resistance is focused on the 123,800-124,800 area, while the lower support is focused on the 120,500 area.
10.9 Bitcoin Short-term Reference:
Short position entry point 123,800-124,800, stop loss at 126,800, target below 122,500 with a stop loss of 500.
Long position entry point 119,800-120,500, stop loss at 500, defend at 118,500, target above 121,500.
The article is sent with a delay, and the strategy suggestions are for reference only. The market changes rapidly, and regardless of how confident one is in market judgment, stop-loss and take-profit must be well managed. For more real-time trading strategies, online technical learning, and exit strategies, you can follow the mentor's public account (Mr. Coin) to get the addition method: the first ten each day can receive free exit strategies.
For more real-time trades, you can follow my public account to access online market 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.
Exclusive views, the article is sent with a delay, risks are self-borne, and positions should be reasonably controlled. Do not operate with heavy or full positions. Mr. Coin wishes all fans to achieve financial freedom, to move forward together, and to keep pushing. 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 from the cryptocurrency circle, refusing plagiarism and respecting originality!
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