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 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.

11.4 Bitcoin (BTC) Market Analysis Reference

Recently, Bitcoin has taken a sharp turn, breaking through multiple support levels, with a total drop of nearly 12,000 points over two days, approaching a low of 98,888 before rebounding. By yesterday, the situation improved slightly, with bullish sentiment warming up, and prices began to rise slowly. However, the overall downtrend has not dissipated, and the current price is running around 103,500. The focus going forward is on the 105,000 resistance area. If it can break through and stabilize during the day, there is a possibility for continued bullish momentum. Conversely, if the market retraces, there will still be support.

From the daily chart, a bullish candle formed yesterday, temporarily ending the bearish trend. Although the market has rebounded, the key resistance above has not been broken, and there is a trend of resistance moving downward. If a strong rebound does not occur during the day, the market may still face pressure. The overall trend remains in a volatile state following a significant drop, but bullish sentiment has slightly warmed up. On the short-term hourly chart, the Bollinger Bands are narrowing, with prices approaching the middle band resistance. However, supply has already shown signs of weakness, and prices have not further tested upward, indicating that the market is under pressure. Therefore, short-term operations do not recommend blindly chasing the rise, and caution should be taken against a deep correction. If the price breaks below the 102,000 level during the day, the downward trend may continue. All cryptocurrency friends should prepare in advance. On the 4-hour chart, pay attention to the 105,000 resistance area, and on the daily chart, focus on the 108,500 resistance, with support below at the 100,000-102,000 range.

11.6 Bitcoin Short-term Reference:

Short position entry at 106,500-107,500, with a stop loss at 109,500 and a target below 105,500.

Long position entry at 100,000-102,000, with a stop loss at 500, and a target above 103,000.

There may be a delay in the article's release, and the strategy suggestions are for reference only. The market changes rapidly, and regardless of how confident one is in market judgments, it is essential to manage take-profit and stop-loss levels properly. For more real-time strategies and online technical learning, follow the mentor's public account (Mr. Coin Discusses Cryptocurrency) for access. The first ten people each day can receive free strategies for resolving positions.

For more real-time strategies, you can follow my public account for online technical learning and position resolution. I have researched the market for many years, studying the major trends in the cryptocurrency space, and have studied in the U.S. multiple times, mainly analyzing and guiding BTC, ETH, DOT, LTC, FIL, EOS, BCH, ETC, and other cryptocurrencies. For those who are not familiar with trading, you are welcome to study and learn together.

Exclusive opinions, with a delay in article release, risks are self-borne. Manage your positions reasonably, and do not operate with 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, prepare well, and be ready to set off at any time. Keep going!

—— This article is written by Mr. Coin from the cryptocurrency community, refusing plagiarism and respecting originality!

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