Cryptocurrency trading is a long-term plan; it is not about immediate results, so one should not be overly anxious. Even if there are short-term losses, there is nothing to fear. As long as the subsequent direction is chosen correctly, what is lost will eventually return. However, it is important to grasp the timing of trades and the current market trends to improve the win rate. 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 Analysis Reference for Bitcoin (BTC) on October 9

The intraday trend of Bitcoin has retraced as expected and has shown a rebound. Currently, it has tested the market multiple times in the evening but has failed to break through the upper resistance at 63,000. The short-term upward momentum has been interrupted. Bullish sentiment is starting to weaken, and the price has repeatedly attempted to rise without success, coupled with the upper resistance beginning to shift downwards.

From the daily chart, the price has shown a pullback at a high level, forming a long upper shadow, indicating heavy selling pressure above. The current range continues to shift downwards, and the overall trend is relatively weak. If this continues, there is a possibility of the price further testing the 60,000 level. Mr. Coin advises all cryptocurrency friends to prepare in advance. We should continue to pay attention to the 63,000 resistance area. If it can break and stabilize above this area during the day, the downward trend will ease, but the short-term trend will not change. In the attached indicators, the MACD fast and slow lines maintain a downward posture, the Stoch lines are close to each other and flattening, and the RSI is slightly turning upwards. This indicates that the intraday trend is still oscillating downwards, and I hope all cryptocurrency friends do not blindly chase after the market.

On the short-term 4-hour chart, the Bollinger Bands are narrowing, and the market is operating in the middle to lower band area. Currently, there are two consecutive bullish candles, but bullish sentiment is starting to weaken, and long upper shadows are appearing. This indicates that the market is under pressure. In the short term, it is in a range correction phase. If the rebound loses momentum, the bears will inevitably return, and there is a risk of the market retracing to lower support. It is recommended to focus on short positions during rebounds, and for long positions, pay attention to the afternoon support break situation for entry.

Short-term Reference for Bitcoin on October 9:

For more real-time trading strategies, online technical learning, and exit strategies, you can follow the mentor's public account (Mr. Coin) for access. The first ten people each day can receive free exit strategies.

For long positions, enter in the 60,700-60,200 range, with a stop loss at 59,500 and a target above 61,500.

For short positions, enter in the 62,500-63,000 range, with a target below 62,000, a stop loss at 64,000.

Short-term Reference for Ethereum on October 9:

For short positions: 2,481-2,460, with a stop loss at 2,590, and a target below 2,430.

For long positions, pay attention to the 2,340-2,310 range, with a stop loss of 50 points and a target above 2,380.

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 online technical learning, exit strategies, etc. I have researched the market for many years, studying the major trends in the cryptocurrency space, and have studied extensively in the U.S. focusing on analyzing 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 shared by Mr. Coin and represents 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 do not operate with 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. Keep it up!

—— This article is written by Mr. Coin, and we refuse to plagiarize and respect originality!

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