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 short-term losses, 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 learn while trading, summarizing both profits 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 November 6: Bitcoin (BTC)

Yesterday, Bitcoin retraced and rebounded, maintaining a high-level consolidation afterward, with bulls pushing the market upward in the evening. The price has now returned above 70,000, stabilizing above the 71,000 line. If the price can continue to stabilize around 71,000, the upward trend is expected to continue.

From the daily chart, the price reversed and closed positively yesterday, breaking through the middle Bollinger Band resistance. The current trend is stabilizing above, with the price facing resistance near the defense line. Market sentiment is relatively sluggish, but the overall bullish trend is warming up, and further upward testing is expected, so the trading suggestion is to focus on long positions.

On the short-term hourly chart, the Bollinger Bands are opening upwards, and the market is operating in the middle to upper band area. In the 4-hour cycle, the MACD histogram has turned positive, and the DIF line has crossed above the DEA line, indicating an increase in bullish momentum. Although the MACD has shown some pullback on the daily level, it remains in a high area. Currently, both bulls and bears are taking turns to exert force. With the U.S. elections approaching, it is likely to affect market volatility. It is recommended to operate with light positions and maintain a low long position in the short term.

Short-term Reference for Bitcoin on November 6:

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 daily followers can receive free exit strategies.

Long position: Buy in the range of 68,100-68,600, defend at 67,200, stop loss at 66,800, target above 70,000.

Short position: Sell in the range of 71,500-72,000, target near 70,000, defend at 73,200, stop loss at 300.

Short-term Reference for Ethereum on November 6:

Short position: Sell in the range of 2,560-2,590, defend at 2,850, stop loss at 2,870, target below 2,650.

Long position: Focus on the range of 2,420-2,460, stop loss at 50 points, target above 2,520.

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 market judgments, 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 cryptocurrency, and have studied in the U.S. multiple times, mainly analyzing and guiding 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 views. 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. Keep it up!

—— This article is written by Mr. Coin, no plagiarism allowed, respect originality!

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