Warren Buffett: "If you are on the wrong road, running doesn't help." Li Hui advises that no matter how confident you are in the market when trading futures contracts, do not over-leverage. Risk control must be considered before profits. The decision to enter the long or short position should be based on whether there is a breakthrough in support/resistance. Avoid frequent trading, manage your positions and desires, spend more time observing and waiting for opportunities, reduce the cost of trial and error, and increase self-control and confidence. Let everything be carefully planned, do not engage in unprepared battles, and do not play cards that cannot be taken back. Maintain good trading habits, guard against arrogance and impetuosity, and steadily make progress in order to achieve long-term profits in the industry. Li Hui will continue to uphold professional knowledge, meticulous analysis, unique position-building techniques, and a calm spirit to assist every coin trader in successfully gaining valuable wealth, and continuously realize their own value in the coin circle! Wishing everyone financial freedom in 2024! Keep it up!
Li Hui's Bitcoin Market Analysis and Trading Suggestions on September 3rd:
In the 1-hour chart of Bitcoin, the Bollinger Bands channel is narrowing upwards, and the candlesticks broke through the EMA30 support again and rose above the EMA60 last night. The EMA80 formed a temporary decline, and short-term indicators intend to pull back. The MACD shows no obvious weakening in volume, and the DIF and DEA continue to diverge above the 0 axis.
In the 4-hour chart, the Bollinger Bands oscillate in a downward channel, but there is some relief, especially after touching the EMA30, the upper rail may have the intention to rise. Therefore, this is still a good point for short selling or adding positions. Strictly set stop-loss orders if there is a breakthrough. The MACD shows the fast and slow lines pulling back and forth in the negative zone, and the strength of the price increase after the golden cross is not very strong, especially the volume above the 0 axis is not as strong as Li Hui expected.
In the daily chart, the downward channel of the Bollinger Bands has not changed. The EMA7 has been suppressing the candlesticks above it in recent days, and both the EMA7 and EMA60 are in a downward trend. The MACD shows a slight increase in volume below the 0 axis, and the opening of the fast and slow lines continues. The overall major trend has not changed significantly. It is recommended to focus on short selling on pullbacks and not be deceived by false signals!
It is recommended to lightly short in the 58500-59000 range; set stop-loss at 59200; take profit at 57800-57300; if there is a breakthrough, continue to hold in the 57200-56900 range; if there is a loss at 59200, directly adjust to 59700-60000 range to continue shorting, with the same target as above.
Article reviews may have delays, and the market changes rapidly. Specific entry opportunities need to be combined with actual trading operations. Real-time notifications should be followed, and the suggested entry points in the article are for reference only. Set stop-loss and take-profit orders when entering the market, and take profits when the opportunity arises!
I, Li Hui, interpret world economic news, analyze the global trend of the coin circle, and have in-depth research on BTC, ETH, LTC, DOT, EOS, BNB, SOL, and other currencies while studying in the United States. For those who are not familiar with trading, feel free to leave comments!
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This article is exclusively published by (WeChat Official Account: Zhang Li Hui) and does not represent any official position. The release and review of the article may have delays. The above points are for reference only, and risks are self-assumed! May we always carry humility and courage in this complex and chaotic coin circle, fear no challenges, and dare to explore. Just as the road ahead is long, "I will seek and strive." May we read extensively, keep pace with the times, and draw wisdom from it. After traveling thousands of miles, experiencing storms, witnessing scenery, and understanding life, may you, under the guidance of Li Hui, avoid weaknesses and play to your strengths, and create value together. May we always remember the baptism of the market, not forget our original intentions, and move forward with determination in the wave of digital currency. With the belief firmly held in each other's hands, may we jointly compose the future and share the joy of success. Let us gather in the turbulent world of digital currency, make the most of our time, and create brilliance together. Li Hui is willing to embark on this challenging and opportunistic investment journey with you.
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