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 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 improve 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 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.
2.12 Mr. Coin's Cryptocurrency Analysis: Bitcoin (BTC) Market Analysis Reference
Bitcoin has repeatedly failed to break upward during the day, and in the evening, it broke downwards, with bearish sentiment starting to slightly dominate. By early morning, the market continued to break down, with prices constantly declining, and as of the time of writing, the low has approached the 95,500 line. If it breaks down again, the price may test the 94,000 line, so it is advisable to prepare in advance. The overall market maintains a wide range of fluctuations, but the range has shifted downwards, with the current price operating below 96,000, indicating a weakening trend.
On the daily chart, the market has failed to stabilize above the 98,000 line after multiple rebounds, and the price has broken down again. Currently, the Bollinger Bands are opening downwards, and all moving averages are in a downward posture. The fifteen-day attack line is forming resistance at the 98,300 line and is slowly moving downwards. If the market cannot make a strong rebound during the day, there is a possibility of further price declines. All indicators in the attached chart are showing downward volume, indicating a bearish bias for the day.
On the short-term hourly chart, the Bollinger Bands are opening slightly, with prices retracing in the middle to lower band area. The MACD line and signal line are both in negative territory, and the MACD histogram continues to shrink. Currently, the bearish strength has weakened, but it has not yet turned into bullish. The RSI value is in the oversold range, which may present a short-term rebound opportunity, but the strength is not significant. Therefore, it is not recommended to blindly chase long positions, and caution should be taken against further price declines. Watch for resistance below 97,000 and support around 94,500.
2.12 Bitcoin Short-term Reference:
For more real-time trading strategies, online technical learning, and exit strategies, please follow the mentor's public account (Mr. Coin). The first ten daily followers can receive free exit strategies.
Short Position: Sell at 97,000-97,500, defend at 98,800, stop loss: 500, target below 96,500.
Long Position: Focus on the 95,000-94,500 range, defend at 93,000, target above 96,000.
2.12 Mr. Coin's Cryptocurrency Analysis: Ethereum (ETH) Market Analysis Reference
Ethereum's trend is basically linked to the overall market. After breaking through the 2,700 line yesterday, it has retraced as expected. Currently, the short-term market is relatively stagnant, with both bulls and bears taking turns to exert force. The price has attempted to break upward multiple times but has not succeeded. As of now, the market continues to show weak fluctuations, with the price retracing to the range, currently operating around 2,615. The short-term market is biased towards a downward trend, so caution is advised against potential price breakdowns. The suggested strategy is to focus on short positions during rebounds, with support around 2,530 and resistance near 2,730.
2.12 Ethereum Short-term Reference:
For more real-time trading strategies, online technical learning, and exit strategies, please follow the mentor's public account (Mr. Coin). The first ten daily followers can receive free exit strategies.
Short Position: Sell at 2,720-2,680, defend at 2,850, stop loss: 2,870, target below 2,630.
Long Position: Focus on the 2,500-2,540 range, stop loss 50 points, target above 2,600.
The article may have delays in sending, 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 to secure gains.
Mr. Coin's public account: Mr. Coin
For more real-time trades, please follow my public account for online 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 cryptocurrencies. I welcome all cryptocurrency friends who are unsure about trading to study and learn together.
This article is exclusively shared by Mr. Coin and represents his unique views. There may be delays in sending the article, and risks are to be borne by the reader. Manage positions reasonably and avoid 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. Let's go!
—— This article is written by Mr. Coin, plagiarism is refused, and original content is respected!
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