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, you should 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 obtaining valuable wealth and continuously realizing their own value in the coin circle! Wishing everyone financial freedom in 2024! Keep it up!
September 8th, Li Hui: Bitcoin market analysis and trading recommendations:
The recent market has been very favorable. Those who have not been paying attention can refer to my articles from the past week. Especially the precise entry into a long position in the 52850-52550 range for Bitcoin in the early morning yesterday, the market moved up and broke through the 1-hour EMA30 last night, hitting the first target of 54600 and reducing the position. Those who followed could have gained 1750+. The reduction in position at this point also reflects the possibility of a short-term indicator reversal, and the 4-hour midline is under slight pressure, coinciding with the reduction in position. Therefore, before entering the market, you must determine the entry and exit points; otherwise, you will always miss the best exit opportunity and fail to capture a larger space.
After the 1-hour candlestick broke through the EMA30 last night, the long position below 52850 also reduced as expected, and the market subsequently experienced a retracement. After the golden cross of the fast and slow lines yesterday, the market moved quickly in the evening, continuously approaching the 0 axis position. Although the coin price continued to oscillate upward, it did so slowly without significant stretching or breakthroughs. However, it did rebound by more than 2000 points within the day, so long positions need to be reduced. Many coin friends asked me if they should go long after breaking through 54600. Based on experience, I firmly advise against it. The current Bollinger Band channel is once again opening downward, and the DIF is turning and converging with the DEA, indicating a potential death cross.
The Bollinger Band channel is converging on the 4-hour chart, and the upper band continues to move downward, crossing below the EMA30. The candlestick touched the midline and EMA15 range last night before falling back. Fortunately, those who listened to me did not chase after the high. We need to continue to monitor whether the lower band can hold. After the DIF approaches the DEA, it once again shows a divergence. Continue to pay attention to the opening pattern and the volume status below the 0 axis! However, it is the weekend again, and the market may not experience significant breakthroughs. Intraday trading may maintain oscillation in the mid-lower band range. Focus on entering long positions at high levels and short positions at low levels. Pay close attention to whether a large range will emerge early Monday morning.
It is recommended to go long in the 52900-53100 retracement range, with a stop loss at 52500; the target is 53700-54500. If the range of 54600-54900 is broken, it can be held until the 55600-56000 range. For short positions, it is also necessary to pay attention to whether the range of 54600-54900 is broken for layout, and the target can still be seen below 53500.
Article reviews may be delayed, and the market changes rapidly. Specific entry opportunities should be combined with actual trading operations, and real-time notifications should be followed. The suggested positions in the article are for reference only. When entering the market, set up stop-loss and take-profit points and take profits when the opportunity arises!
I, Li Hui, interpret world economic news, analyze global trends in 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, feel free to comment and leave a message!
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This article is exclusively published by (WeChat Official 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 risks are self-assumed! May we always carry humility and courage in this complex coin circle, fear no challenges, and dare to explore. Just as the road ahead is long and arduous, we will seek and explore. May we read extensively, keep pace with the times, and draw wisdom. 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, creating value together. May we always remember the market's baptism, not forget our original intentions, and thus achieve consistency. In the wave of digital currency, holding firm to faith, advancing courageously. May we jointly create a brilliant 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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