The essence of trading lies in the ability to find 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 holding positions, locking positions, refusing to cut losses, and lacking a clear strategy. The fear of missing out on market trends, following the wrong orders, following the crowd, and having a poor mindset often lead to small gains and large losses. Therefore, it is important to carefully consider entry points before taking action. Aggressive entry points can leave one in a dilemma between long and short positions, either catching the highest or lowest point, resulting in significant price differences. Reluctance to cut losses can only lead to holding positions, while stable entry points allow for profitable exits and timely exits.
Mr. Coin's analysis of Bitcoin (BTC) market on July 8th:
Let's review the ideas from yesterday's article. The short position entered at 58300 and notified to take profit near 56850 resulted in a gain of nearly 1500 points. The article provided entry points, and for those who are unclear, it is recommended to review historical articles. Now, let's take a look at today's market.
Bitcoin continued to consolidate within the day, facing resistance even during pullbacks. The price is currently running near 57150. The Bollinger Bands on the hourly chart are starting to contract, indicating a compressed range with the price fluctuating around the middle band. The current weak consolidation situation has not changed. Looking at the daily chart, the MA5 moving average continues to suppress the price, and the MACD and KDJ indicators maintain a bearish resonance. The short and medium-term EMA lines are taking advantage of the current bearish trend. The key resistance area on the daily chart has shifted downwards, and the current short-term suppression area is the high point of the day. A light short position can be considered near this area, with attention to 58500 and then 59900 on the upside, and 50000 on the downside.
Short-term reference:
For more real-time trading strategies, online technical learning, and exiting strategies, please follow the public account of the mentor "Mr. Coin" to obtain the contact information: the first ten followers each day can receive free exiting strategies.
For short positions, pay attention to the suppression at 58500, consider entering short positions on rebounds between 57800-58200, defend against additional positions at 59900, set a stop loss at 60500, and target profits at 57300-56900. If 56500 is broken, positions can be held. For long positions, focus on 50000, consider a light short position, set a stop loss at 400 points.
Mr. Coin's analysis of Ethereum (ETH) market on July 8th:
As mentioned in yesterday's article, the current trend is very clear: it's either bearish or in a range-bound consolidation. This type of market is very easy to operate in. Yesterday morning, it was suggested to enter a short position near 3070, and after a day, profits were taken near 2965, securing a gain of over a hundred points.
Compared to the previous days, Ethereum's intraday fluctuations have been small, with the price currently running near 2985. The overall trajectory of the Bollinger Bands and the MA30 moving average on the 4-hour chart continue to exert downward pressure on the coin price, limiting the rebound. Coupled with the weak weekend trading volume, the market tends to undergo minor range-bound oscillations. The intraday pullback price has not broken through the key suppression area around the middle band, indicating a short-term trend of consolidation. Looking at the daily chart, the KDJ lines are parallel and pointing downwards, while the MACD volume has decreased but remains unchanged. As long as the intraday price rebound fails to effectively break through the MA5 moving average suppression, the overall trend remains weak. The focus for the day is on the breakthrough near 3080. It is recommended to mainly consider short positions on rebounds.
Short-term reference:
Enter short positions near 3060-3080 on price rebounds, defend against additional positions at 3170-3200, set a stop loss at 3240, and target profits near 2960. If 2930 is broken, positions can be held.
Consider short-term long positions near 2770-2800 on price pullbacks, defend against additional positions at 2680-2650, set a stop loss at 2610, and target profits near 2980.
There is a delay in article delivery, and the market is constantly changing. Regardless of how high one's judgment of the market is, it is essential to set stop loss and take profit levels. More real-time trading strategies can be obtained by following the public account under the author's name, where you can also learn about technical analysis and exiting strategies. With years of market research experience, the author has studied the major trends in the cryptocurrency market and has provided analysis and guidance on 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 written and shared by Mr. Coin, representing his unique viewpoint. There is a delay in article delivery, and the risk is 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 investment, it is important to learn to be optimistic. Don't let the future you dislike the present you. We live in reality, but not every piece of data needs to be taken seriously. Let go of the past and let the future arrive sooner! Rest well, prepare yourself, and get ready to move forward. Let's go!
- This article is written by Mr. Coin in the cryptocurrency circle, and plagiarism is rejected. Respect originality!
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