The essence of trading lies in the ability to seize opportunities, plan before taking action, and strategize. This has always been the key to Mr. Coin's success in the market. Many people fail due to chaotic operations, lack of planning, and most importantly, heavy losses caused by overexposure, locking positions, holding onto losing trades, and not setting stop-loss orders. The root cause is often a lack of clear thinking, fear of missing out on market trends, following the wrong trades, following the crowd, and having a poor mindset, resulting in small gains and large losses. Therefore, it is essential to carefully consider entry points before taking action. Aggressive entry points often lead to dilemmas for both long and short positions, either catching the highest or lowest point, resulting in significant price differences. Reluctance to set stop-loss orders can only lead to holding positions, while prudent entry points allow for profitable exits and timely exits.

Reviewing yesterday's strategic thinking, a long position was entered near 61900 in the morning, fortunately yielding a small profit upon exiting. The suggestion to place a short position at 62600 was not realized. Yesterday's suggestion to go long near 60200-60500 was followed by some entering long positions, some being stopped out, and some exiting at a high. Currently, my suggestion is to remain in a neutral position and wait for opportunities.

Bitcoin is currently trading around 59720. Intraday prices continue to decline, falling below 60000 but rebounding slightly around 59600. The short-term trend remains weak and volatile. Looking at the hourly chart, the MACD is starting to shrink, the EMA60 and the middle track are parallel and trending downward, and the daily middle track is slowly continuing to decline. Resistance above is also moving downward, and the daily KDJ has formed a golden cross. Therefore, the primary suggestion for trading is to focus on short positions on rebounds, with light long positions on pullbacks (ensuring that the long positions are light to prioritize the safety of the principal by setting stop-loss orders).

Short-term trading suggestions for the day:

For short positions, focus on entering the 61800-62100 range, pay attention to adding short positions in the 62900-63300 range, set a stop-loss at 63800, and take profit at 61000, 60500, 60000.

For long positions, if 59500 is broken, wait and see first. Prudently focus on entering long positions in the 58000-58300 range, pay attention to adding long positions at 57600, and take profit at 59000-59600-60200. Consider following the trend after the range is broken.

There is a delay in the delivery of this article, and the market is constantly changing. Regardless of how high the judgment of the market is, it is essential to set stop-loss and take-profit orders to ensure safety.

For more real-time trades, follow my public account to obtain them. You can also learn about technical analysis of the market and how to exit positions. I have studied the market for many years, focusing on the major trends in the cryptocurrency market. I have also studied and guided the trading of 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.

This article is exclusively written and shared by Mr. Coin and represents his exclusive viewpoint. There is a delay in the delivery of the article, and all risks are borne by the reader. It is important to control your positions reasonably and avoid heavy or full positions. Mr. Coin hopes that all his fans and friends can achieve financial freedom and progress together. In the depths of time, hold onto understanding. In investing, it is essential to learn to be optimistic. Do not let the future you dislike the present you. We live in reality, but not every piece of data needs to be taken seriously. Let the past go, and let the future arrive sooner! Take good care of yourself, prepare yourself, and be ready to go at any time. Let's go!

• This article is written by Mr. Coin in the cryptocurrency circle, and plagiarism is rejected. Respect originality!

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