Cryptocurrency trading is a long-term plan, not something that can be achieved overnight, so one should not be too hasty. 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 improve the win rate. At the same time, investing is also a process of growth. Mr. Coin suggests that all cryptocurrency friends should learn while operating, summarizing both gains and losses in a timely manner to deepen their understanding of risks and to plan the correct mindset. This way, risks can be reasonably avoided, and one can become a qualified investor.

Mr. Coin's Cryptocurrency Market Analysis Reference for Bitcoin (BTC) on 10.10

Bitcoin continued its corrective trend yesterday. The overall trend was mentioned in yesterday's article as being weak, and the short position strategy provided in that article successfully took profits. During the day, the price tested the resistance at 62500 multiple times but failed to break through. In the evening, the price experienced a strong pullback, with the previous slow gains being completely erased. Recently, the price touched the low of 60800 before rebounding. Today, bullish sentiment is sluggish, and the strength of the rebound has weakened again. If it breaks below the 2-day Bollinger middle line support at 60500, the price is expected to break below 60000.

On the daily chart, the trend has ended with three consecutive bearish candles. Yesterday's recovery also failed to stabilize above the 63000 level, and the subsequent rebound has started to lose strength. The downward momentum that was temporarily halted yesterday has erupted again today, with the intraday high being pressured around 62560. The daily chart shows a long upper shadow, indicating that the resistance is still quite strong.

On the short-term hourly chart, the EMA moving averages are all above the price, and the overall trend remains weak. The intraday situation has entered a pattern of slow rises and rapid declines, with bears holding a slight advantage overall. The five-day and seven-day moving averages intersect at the EMA240, forming a resistance line. If it cannot break through in a short time, there is a possibility of the price declining again. Conversely, it will further test the middle track of the Bollinger Bands around 62500, so please be prepared in advance. Bitcoin is entering a volatile downward trend, and the intraday operation suggests focusing on short positions during rebounds, with long positions as a supplement.

Short-term Reference for Bitcoin on 10.10:

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, pay attention to the support at the 2-day Bollinger middle line (60500) and the breakout situation, with a long position in the 59500-60000 range, defending at 58500, stop loss at 58000, and target above 60500.

For short positions, short in the 61500-61800 range, with a target below 61000, defending at 63000, and stop loss at 300.

Short-term Reference for Ethereum on 10.10:

Short position: Short at 2441-2460, defend at 2560, stop loss: 2590, target below 2400.

Long position: Pay attention to the 2340-2310 range, stop loss 50 points, target above 2380.

The article may have delays in sending, and the strategy suggestions are for reference only. The market changes rapidly, so regardless of how confident you are in your market judgment, always set stop-loss and take-profit 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 cryptocurrency, and have studied extensively in the U.S. focusing on analyzing BTC, ETH, DOT, LTC, FIL, EOS, BCH, ETC, and other coins. 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 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 we refuse to plagiarize and respect originality!

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