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, you should not over-leverage in futures trading. Risk control must be considered before profits. The decision to enter the long or short position should be based on whether the support/resistance level is broken. Avoid frequent trading, manage your position and desires, spend more time observing and waiting for opportunities, reduce the cost of trial and error, and increase self-discipline 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 obtaining valuable wealth and continuously realizing their own value in the coin circle! Wishing everyone financial freedom in 2024! Keep it up!
September 6th, Li Hui: Bitcoin market analysis and trading recommendations:
Yesterday morning, short positions were established above 58,000 for Bitcoin, accurately reaching the third target of 55,800, gaining more than 2,200 points. The article and video positions can be checked. The recent strategy has been to short on rebounds, and everyone can review the amount of space for short positions. Just after the needle was inserted at 55,673, a volume was formed. Yesterday, it was also mentioned that it is necessary to pay attention to the breaking of the 55,700-55,500 range. Today's strategy remains unchanged.
The current 1-hour Bollinger Bands channel continues to move downward, and short-term indicators are also trending downward. The volume is slightly lower below the zero axis, but the bulls' counterattack is weak, and the convergence of the fast and slow lines has not been successful twice.
The midline to EMA15 range on the 4-hour chart formed pressure last night, but the upper Bollinger Bands channel is rising again and overlapping with EMA60. Short-term indicators are still in a bearish state, so continue to pay attention to opening short positions in the rebound between the midline and EMA30. The volume below the zero axis still exists, and the fast and slow lines continue to spread downward, indicating that there is still space below.
The daily chart's candlestick has already broken through the lower band, testing yesterday's low point. Currently, it seems that it cannot hold, and after the death cross below the zero axis, it has been spreading downward. The midline also forms strong pressure at the top of the candlestick:
In summary, Li Hui's operation today continues to focus on shorting on rebounds, and you must wait for the breaking to stabilize before considering going long.
Recommendation: Light short above 56,900 on the pullback; reserve positions between 57,800-58,200; stop loss at 58,500; take profit at 56,100-55,200-54,300.
Recommend entering long positions between 53,900-54,200 without breaking the low range, with a target of 1,500-2,000 points.
Article reviews may be delayed, and the market is constantly changing. Specific entry opportunities need to be combined with actual trading operations. Real-time notifications are the standard, and the article's recommended positions are for reference only. When entering the market, set stop-loss and take-profit levels and take profits when the opportunity arises!
I, Li Hui, interpret world economic news, analyze the global trend of the coin circle, and have conducted in-depth research on BTC, ETH, LTC, DOT, EOS, BNB, SOL, and other currencies while studying in the United States. For those who do not know how to operate, you are welcome to comment and leave a message!
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This article is exclusively published by (WeChat public account: Zhang Lihui) and does not represent any official position. The publication and review of the article may be delayed. The above positions are for reference only, and the risk is at your own discretion! 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 is long, "the road ahead is long and far-reaching, I will seek and explore." May we read thousands of books, keep pace with the times, and draw wisdom. After traveling thousands of miles, experiencing wind and rain, witnessing the 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 market's baptism, not forget our original intentions, and thus achieve lasting success. In the wave of digital currency, holding onto faith with Li Hui, being steadfast, and moving forward courageously. May we jointly create a brilliant future and share the joy of success. Let us gather in the turbulent world of digital currency, live up to the time, and create brilliance together. Li Hui is willing to embark on this challenging and opportunistic investment journey with you.
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