Cryptocurrency trading is a long-term plan; it is not about immediate results, so one should not be overly anxious. Even if there are losses in the short term, there is nothing to fear. As long as the subsequent direction is chosen correctly, what has been lost will eventually return. However, it is important to grasp the timing of trades and the current market trends to increase the probability of success. At the same time, investing is also a process of growth. Mr. Coin advises all cryptocurrency friends to learn while trading, summarizing both gains and losses in a timely manner to deepen their understanding of risks and to plan a correct mindset. This way, risks can be reasonably avoided, and one can become a qualified investor.

Mr. Coin's Cryptocurrency Market Analysis Reference for October 2: Bitcoin (BTC)

Bitcoin has ended a series of bearish candles, continuing a weak downward trend after the daily opening. The current trend has broken below the 62000 level, with prices continuously declining. The daily chart has already given a signal for a pullback. As long as the price does not break above the 63000 resistance, the probability of further decline is expected to increase, with a possibility of testing the 60000 support level. It is advisable for cryptocurrency friends to prepare in advance.

Looking at the short-term hourly chart, the trend has shown consecutive bearish candles, with the Bollinger Bands opening up. The price continues to decline towards the lower band, and current bearish sentiment is quite strong. If it cannot break above the 63200 fifteen-day moving average resistance in the short term, the downward trend is expected to continue. Currently, the intention to decline is quite clear, and the daily chart also shows a pullback signal. The MACD on the four-hour chart is below the zero line, with both the fast and slow lines diverging downwards, indicating strong bearish momentum. The price is currently below the EMA7, EMA30, and EMA120, and the short-term moving average (EMA7) has already crossed below the long-term moving averages (EMA30 and EMA120), indicating that the overall trend remains unchanged. The focus should be on the daily EMA30 moving average support area around 61350. If it breaks below this level, there will be significant downward space, so attention should be paid to the breakout or stabilization in this range. If it breaks down, continue to maintain a short position; conversely, if it stabilizes, focus on the 63000-61000 consolidation range. The current trend is weak, and it is prudent to maintain a short position on rebounds.

Short-term Reference for Bitcoin on October 2:

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Long position: Buy in the 60300-60800 range, with a stop loss at 59300, and a target above 61500.

Short position: Sell in the 62600-63000 range, with a target below 61800, and a stop loss at 63900.

Short-term Reference for Ethereum on October 1:

Short position: Sell in the 2541-2580 range, with a stop loss at 2650, and a target below 2460.

Long position: Focus on the 2360-2390 range, with a stop loss of 50 points, and a target above 2460.

The article may have delays in sending, and the strategy suggestions are for reference only. The market changes rapidly, and regardless of how confident you are in your market judgment, always set take-profit and stop-loss levels to secure your gains.

For more real-time trades, you can follow my public account for access. You can learn online about market techniques, exit strategies, etc. I have researched the market for many years, studying the major trends in cryptocurrency, and have studied extensively in the U.S. to analyze and guide BTC, ETH, DOT, LTC, FIL, EOS, BCH, ETC, and other cryptocurrencies. I welcome all cryptocurrency friends who are unsure about trading to study and learn together.

This article is exclusively written and shared by Mr. Coin, representing only his unique perspective. There may be delays in sending the article, and risks are to be borne by the reader. Manage your positions reasonably, and avoid heavy or full positions. Mr. Coin wishes all fans to achieve financial freedom, to move forward together, and to keep striving. In the depths of time, hold onto understanding. In investing, one must learn to be optimistic. Do not let your future self dislike your present self. We live authentically, but not every data revelation needs to be taken too seriously. Let the past be the past, and let the future come quickly! Take good care of yourself, prepare well, and be ready to set off at any time. Let's go!

—— This article is written by Mr. Coin, and plagiarism is rejected; respect originality!

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