Trading in the cryptocurrency market is a long-term plan, not something that can be achieved overnight, so one should not be overly anxious. Even if short-term losses occur, there is nothing to be afraid of. As long as the subsequent direction is chosen correctly, what is lost will eventually return. However, it is important to grasp the timing of trades and the current market trends, so that the probability of winning will increase. At the same time, investing is also a process of growth. Mr. Coin suggests that all coin friends learn while trading, summarizing their profits and losses in real-time to deepen their understanding of risks and develop a proper attitude towards planning, thus reasonably avoiding risks and becoming qualified investors.
Mr. Coin's March 9 Bitcoin (BTC) Market Analysis Reference
The daily chart for Bitcoin shows a closing doji star, with continued weak fluctuations after the market opened today. The daily trend is continuously declining. The low has reached the 66500 line, and the daily chart has given a correction signal. As long as the price does not break through the resistance above 68500, the probability of further decline is expected to increase, with a possibility of testing the previous support at 66000. Coin friends should prepare in advance.
Looking at the short-term hourly chart, the trend has continued to close in the red. The Bollinger Bands are in an opening position, with prices continuously oscillating at low levels. Currently, the bearish sentiment is quite strong, with the 4-hour level continuously closing in the red. The price has fallen from the high point of 68200 to the low point of 66500, forming a clear short-term downward channel. Combined with the daily structure, the long bearish candle appeared on March 6 (71419→67744), establishing a top reversal signal, and the current market is in a correction phase. From the technical indicators, the MACD on the 4-hour and daily levels shows that both the DIF and DEA are below the zero line and are continuously widening. At the same time, the EMA moving average system shows a bearish arrangement, and the price continues to be pressured below EMA7 (67369) and EMA30 (68386). Attention should be paid to the breakout or stabilization in this range. If it breaks down, it would be safer to maintain a rebound strategy, with the overall trend still leaning towards weakness. Stably maintaining a rebound strategy, resistance above is focused on the 68500-69000 area.
March 9 Bitcoin Short-term Reference:
In the 68500-69500 range, maintain, defend 72500, stop loss 500 points, target below 67500, In the 66300-65300 range, target above 675000, stop loss 500
March 9 Mr. Coin: Ethereum (ETH) Market Analysis Reference
The daily chart for Ethereum also ends with a doji star. The daily trend has already retested the support at 1930 as mentioned yesterday by Mr. Coin, with the price continuously probing downwards. Currently, the coin price is running around 1960. Looking at this short-term trend, I personally still recommend shorting on the rebound; it would be more prudent to follow up if it breaks down.
On the short-term hourly chart, after breaking down, Ethereum has a quite strong corrective force and is currently in a series of consecutive red candles, with the short-term bearish trend dominating. All moving averages are in a bearish arrangement. The intraday rebound has not stabilized above 2000, and there is still a trend of continued decline in the future. The current trend is leaning downwards, so Mr. Coin recommends following the trend primarily. Below we should still focus on the supports at 1930 and 1900.
March 9 Ethereum Short-term Reference:
In the 2030-2080 range, maintain, defend 2280, target below 2000,
In the 1860-1930 range, stop loss 50 points, target above 1980,
This article may be sent with a delay; strategy suggestions are for reference only, the market changes rapidly. Regardless of the accuracy of market judgments, always set stop profits and stop losses to secure your capital.
For more real-time trading strategies and online technical learning, feel free to follow the mentor's public account (Mr. Coin speaks cryptocurrency) to get adding methods: the first ten participants each day may receive complimentary strategy support.
For more real-time trades, you can follow the public account (Mr. Coin speaks cryptocurrency). You can learn technical analysis, make adjustments to your holdings, etc. I have researched the market for many years and studied the general trends within the cryptocurrency space, frequently studying and refining my analysis mainly focusing on BTC, ETH, DOT, LTC, FIL, EOS, BCH, and ETC. For those who are unsure about operations, feel free to study and learn together.
The contents of this article are exclusively written and shared by Mr. Coin in the cryptocurrency community, representing only his viewpoint. The article may be delayed in sending; risks are borne by readers. Please control your positions reasonably and avoid heavy positions.Mr. Coin wishes all fans and friends can achieve financial freedom and move forward together. In the depths of time, gently hold onto understanding. In investing, always learn to be optimistic. Do not let your future self dislike your present self. We are living authentically, but not every revealed data needs to be taken seriously. Let the past be the past, and let the future come sooner! Take good care of yourself, prepare well, and be ready to set out at any time. Let's go!
——This article is written by Mr. Coin in the cryptocurrency community, with a strict refusal of plagiarism and respect for originality!
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