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 there is a breakthrough in support/resistance. 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 gaining valuable wealth and continuously realizing their own value in the coin circle! Wishing everyone financial freedom in 2024! Keep it up!
September 7th, Li Hui: Bitcoin market analysis and trading recommendations:
Yesterday, before and after the large non-agricultural data, the market surged and then fell back below the 54200-53900 range. The short position at 56900 was accurately closed at the third target of 54300 for profit-taking. Those who have been shorting recently must have made quite a bit of profit! So, how should we position ourselves in this bearish trend?
The current daily candlestick has continued to move away from the lower band, with a drop of over 3000 points intraday. However, the upper band is also rising and not following the downward trend. From the perspective of the rebound strength in the short term, it does not seem very strong. The indicators are still pointing downwards, indicating that there is still downward potential. The current candlestick is attempting to break the low point of July 5th, indicating that the bearish momentum is still strong. Looking at the support and resistance nodes, there is still an intention to test the downside. Therefore, we should try to enter cautiously with a small position at the lower level, and those who have closed their short positions are not advised to blindly follow at this point!
It is recommended to enter the market in the 52850-52550 retracement range, with a bottom-up position of 51000-51300. Stop loss at 50700; targets at 54600-55200-55800;
Article reviews may be delayed, and the market is constantly changing. Specific entry opportunities need to be combined with actual trading operations. Please refer to real-time notifications for the latest information. The suggested entry points in the article are for reference only. When entering the market, please set up stop-loss and take-profit levels accordingly.
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 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 publication and review of the article may be delayed. The above points 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 up with the times, and draw wisdom from the fountain. Travel thousands of miles, experience storms, witness the scenery, and comprehend life. With Li Hui's guidance, may we learn from our mistakes, avoid shortcomings, and create value together. May we always remember the baptism of the market, not forget our original intention, and continue to move forward. In the wave of digital currency, holding onto faith with Li Hui, let's forge ahead with determination. 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 prime of our lives, and create brilliance together. Li Hui is willing to embark on this challenging and opportunistic investment journey with you.
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