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 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.
3.28 Cryptocurrency Mr. Coin: Bitcoin (BTC) Market Analysis Reference
Yesterday, Bitcoin's market continued to fluctuate within a range, with prices rebounding near the 87700 position facing resistance, followed by a breakdown leading to a downward trend. Currently, it has retraced to the 85700 line for a rebound, maintaining a wide range of fluctuations, with the price operating in the 87100 area.
On the daily chart, the market has repeatedly rebounded but has not stabilized at the 87500 line. The price is currently retracing, and the Bollinger Bands are in a contracting shape. If the market cannot produce a strong rebound today, the price may continue to fluctuate within the range. MACD: Both the fast and slow lines are in the negative zone, but the MACD histogram is gradually shrinking. RSI: RSI14 is hovering around 50, not entering the overbought or oversold zones, indicating a neutral market state. EMA: The price is currently between EMA7 and EMA30, with a trend for the short-term moving average EMA7 to cross above EMA30. There is a potential for a short-term rebound, but the selling pressure above is strong, and the rebound strength is limited. The overall trend still revolves around wide fluctuations. It is still recommended to operate with high shorts and low longs within the range.
On the short-term hourly chart, the Bollinger Bands are in a contracting posture, with prices retracing in the middle to lower track area. The short-term trend is under pressure near the 87500 position. Although it has touched the 85700 line for a rebound, long upper shadows frequently appear above, indicating that the market is under pressure. If it cannot break through 88000 in the short term, there may be opportunities for further retracement. Therefore, it is not advisable to blindly chase longs, and caution should be taken against prices dropping again. The upper resistance to watch is 88000 and 87500, while the lower support is around 85500.
For more real-time trading strategies, online technical learning, and exit strategies, you can follow the mentor's public account (Mr. Coin in the cryptocurrency circle) for ways to add: The first ten each day can receive free exit strategies.
3.28 Bitcoin Short-term Reference:
Light short position 87500-88500, stop loss at 90500, target 86800 below.
Long position 85800-84500, stop loss at 83000.
3.28 Ethereum Short-term Reference:
Short position: 2030-2070, stop loss at 2230, target 1990 below.
Long position 1930-1980, stop loss at 1750, target above 2000.
The article may have delays in sending, and strategy suggestions are for reference only. The market changes rapidly, and regardless of how confident you are in market judgments, always set stop-loss and take-profit levels to secure your gains.
Mr. Coin's public account: For more real-time trading strategies, online technical learning, and exit strategies, you can follow the mentor's public account (Mr. Coin in the cryptocurrency circle) for ways to add: The first ten each day can receive free exit strategies.
For more real-time trades, you can follow my public account. You can learn online about market techniques, exit strategies, etc. I have researched the market for many years, studying the major trends in the cryptocurrency circle, and have studied extensively in the U.S. focusing on analyzing 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 circle and represents his unique views. 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, move forward together, and 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, 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 circle, refusing plagiarism and respecting originality!
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