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 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 increase 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, deepening their understanding of risks, and planning the correct mindset. This way, risks can be reasonably avoided, and one can become a qualified investor.

Mr. Coin's Cryptocurrency Market Analysis Reference for January 23: Bitcoin (BTC)

Bitcoin has once again retraced and surged within the day, with the trend oscillating around the 90,000 line for correction, but it has not broken through the key resistance above. Currently, the short-term price is in consolidation, with both bulls and bears operating around 90,000, making the pattern unclear. Additionally, the short-term price volatility is strong, so Mr. Coin suggests that everyone temporarily observe the market and consider entering positions when support or resistance is reached. Currently, a long lower shadow has appeared on the 4-hour chart (low point 88,676.95), and there is strong buying support at the 89,000 round number;

The daily line has closed above 89,500 for three consecutive days, forming a short-term bottom structure. After attempting to break through the previous high of 90,359.99 and failing, the price retraced to the EMA7 moving average (89,798) for support. It is still holding above this moving average, but is facing resistance from the EMA30 (90,990), and the 120-day moving average (91,814) constitutes stronger resistance. In terms of MACD, although a golden cross has appeared on the 4-hour chart, the histogram has begun to contract, and the DIF value (-849) is still below the zero axis, so one must be wary of false breakout risks. In the future, focus on the stabilization situation around the 90,000 line. In terms of operations, one can short on rebounds and go long at lower levels, with resistance above at 92,200 and support below at 87,000.

Short-term Reference for Bitcoin on January 23:

Short in the 92,800-91,800 range, with a stop loss at 94,500, and a target below 90,800.

Long in the 87,500-88,500 range, with a target above 89,000, and a stop loss of 500.

Short-term Reference for Ethereum on January 23:
Short focus on the 3,030-3,080 range, with a stop loss at 3,280, and a target below 2,980.

Long focus on the 2,880-2,830 range, with a stop loss of 50 points, and a target above 2,930.

The article may have delays in sending, and the strategy suggestions are for reference only. The market changes rapidly, and regardless of how high the judgment of the market is, one must always set take-profit and stop-loss levels to secure profits.

For more real-time trading strategies, online technical learning, and exit strategies, you can follow the official account (Mr. Coin Talks About Coins) to get the addition method: the first ten each day can receive free exit strategies.

For more real-time trades, you can follow the official account (Mr. Coin Talks About Coins) 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 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 not familiar with trading, you are welcome to study and learn together.

This article is exclusively shared by Mr. Coin in the cryptocurrency space and represents only Mr. Coin's unique views. There may be delays in sending the article, and risks are borne by the reader. When trading, control your position reasonably, and do not operate with heavy or full positions. Mr. Coin wishes all fans to achieve financial freedom, move forward together, and 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 in the cryptocurrency space, and we refuse to plagiarize and respect originality!

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