Cryptocurrency trading is a long-term plan; it is not about achieving results 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 suggests that all cryptocurrency friends should learn while trading, summarizing both profits and losses in a timely manner to deepen their understanding of risks and to plan a correct mindset. This way, risks can be reasonably avoided, and one can become a qualified investor.

Mr. Coin's Cryptocurrency Market Analysis Reference for Ethereum (ETH) on November 8:

Ethereum has rebounded after a pullback near the 2190 line during the day, and the current price is running at 3465. The upper resistance area of 3500-3530 has not been broken through, and the short-term trend has begun to enter a consolidation phase. Recently, there have been consecutive bullish candles on the hourly chart, with the latest candlestick breaking the previous high of 3449 and closing near 3465, indicating a short-term increase in bullish momentum. On the daily chart, after the long lower shadow on November 5 (low of 3055), there have been three consecutive days of rebound, but overall it is still in a long-term downward channel (with EMA120 resistance at 3760).

From a technical indicator perspective, MACD: The 4-hour level DIF has crossed above DEA, forming a golden cross (currently at 51.57). The MACD bars at the 1-hour level continue to expand, indicating a possibility of testing upward resistance in the short term. EMA: The price has broken through the 4-hour EMA7/30 dual lines (3378/3462), but EMA120 (3761) constitutes medium to long-term pressure. Overall, if the price cannot effectively break through the 3530 line upward during the day, it is expected that the range-bound market will continue for a while. The strategy is to think high for short positions and low for long positions. The upper resistance to watch is the 3500-3560 area, while the lower support to focus on is the 3200-3230 line.

Short-term Reference for Ethereum on November 8:

For long positions, test the range of 3515-3585, with a stop loss at 3780, and a target below 3450.

For short positions, test the range of 3320-3370, with a stop loss at 3150, and a target above 3420.

There may be delays in sending the article; 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 orders properly. For more real-time trading strategies and online technical learning, as well as ways to exit positions, you can follow the mentor's public account (Mr. Coin Discusses Cryptocurrency) to get the addition method: the first ten people each day can receive free strategies for exiting positions.

For more real-time trades, you can follow the public account (Mr. Coin Discusses Cryptocurrency) 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. to primarily analyze and guide 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.

The content of this article is exclusively shared by Mr. Coin in the cryptocurrency space and represents his unique viewpoint. There may be delays in sending the article, and risks are to be borne by the reader. 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 diligently, and be ready to set off at any time. Keep it up!

—— This article is written by Mr. Coin in the cryptocurrency space, rejecting plagiarism and respecting originality!

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