Cryptocurrency News
February 7 Hot Topics:
1. The Ethereum Pectra upgrade will begin testing at the end of February, with the mainnet expected to launch in April.
2. CBOE submits 19b-4 filings for multiple institutional XRP ETFs.
3. A Bitcoin investment bill in Utah, USA, has passed the House and will be submitted to the Senate for review.
4. Cryptocurrency company Gemini is considering an initial public offering this year.
5. Deribit announces its exit from the Russian market due to EU sanctions.
Trading Insights
Set the Tone in the Morning, Start a New Day of Profit
The morning cryptocurrency market is like an uncut jade, pure and unrefined. Without excessive market noise, price fluctuations at this time often contain key information. If there is a significant drop, don’t hesitate; this could very well be an excellent opportunity to buy at the bottom! It’s like treasure hunting in a pile of cheap goods; once you seize the opportunity, the subsequent returns may exceed your expectations. If the market surges, don’t let victory cloud your judgment; it’s wise to secure profits in time. Holding onto your gains tightly will allow you to face the next challenge with confidence.Maintain a Steady Pace in the Afternoon, Avoid the Trap of Chasing Highs
The afternoon cryptocurrency market is like a lively dance party, but it also hides dangers. When the market surges, don’t let the temporary excitement cloud your judgment; blindly chasing highs can easily make you a "bag holder." Similarly, if you encounter a significant drop, don’t panic; stay calm. Remember, market trends often have twists and turns, and the next day you might find the right low point to enter easily and start a new profit journey.Don’t Panic During a Downturn, Wait for Market Recovery
A sharp drop in the morning can be considered a "black moment" in the cryptocurrency market, but it’s precisely during such times that you must maintain a clear mind. Don’t rush to cut losses due to temporary panic; the market changes rapidly, and a reversal could happen at any moment. Be patient and give the market some time to recover; you’ll find that dawn often comes after darkness.Have Principles in Buying and Selling, Refuse Blind Operations
In cryptocurrency trading, you must stick to your principles. Don’t sell until you reach your target price; don’t buy until you reach your expected low price. When facing sideways markets, it’s even more important to restrain your impulses and avoid blind trading. In such situations, the market direction is unclear, and blind operations will only increase risks, putting your funds in danger.Buy on Dips and Sell on Rallies, Operate with the Trend for Stability
When a bearish candle appears, it’s like the market is sending you a "low-price entry" signal; at this time, boldly buy low and wait for a market reversal. When a bullish candle rises and the market is thriving, decisively take profits at highs. This trend-following method allows you to navigate the waves of the cryptocurrency market steadily, reducing risks and increasing returns.Reverse Thinking Wins, Break the Norms to Win the Future
In the cryptocurrency market, the behavior of the masses is often misleading. When everyone is frantically chasing prices, you must stay calm because the market may have overheated and is at risk of a pullback. Conversely, when everyone is panic-selling, you should act decisively because this could be an excellent opportunity to buy at the bottom. Reverse operations often allow you to find breakthroughs in unexpected places and reap substantial rewards.Endure the Consolidation Period, Wait for the Trend to Clarify
Sideways markets are the most challenging phase for patience in cryptocurrency trading. During this time, the market may seem calm, but undercurrents are at play. Don’t be deceived by temporary tranquility, nor let your emotions control you. Be patient and wait until the trend becomes clear before making decisions. Believe that only by enduring loneliness can you maintain prosperity.Don’t Get Attached to Highs, Take Profits in Time to Secure Gains
When the price consolidates at a high level and then surges again, it often represents the market's "final frenzy." At this time, don’t let greed blind you; take profits in time to secure your gains. The longer you stay at a high level, the greater the risk; a slight misstep could cause your previous efforts to go to waste.
Trading in the cryptocurrency market is like a war without gunpowder; only by mastering the right methods and strategies can you navigate it with ease. I hope these 8 trading insights can become your winning tools in the cryptocurrency market, helping you achieve financial freedom in this challenging environment!
LIFE IS LIKE
A JOURNEY ▲
Below are the real-time trades from the Daba community this week. Congratulations to the friends who followed along; if your operations are not going well, you can come and try it out.
The data is real, and each trade has a screenshot from the time it was sent.
Search for the public account: Daba Discusses Currency
BTC
Analysis
Bitcoin suggested entering short around 98900 yesterday, and the position is currently profitable. If it retraces to around 96500 and does not break below 96200, consider reducing your position. If it reaches around 95770, you can take profits directly. The daily line yesterday spiked up to around 99150 and closed around 96550. The support level is around 93800; if it breaks, it could drop to around 92200. A pullback can be an opportunity to buy. The resistance level is around MA30; if it rebounds to this area, consider entering short. MACD shows increasing bearish momentum. On the four-hour chart, the resistance is around MA200; if it breaks, it could reach MA60. A rebound to this area can be an opportunity to enter short. MACD is stabilizing with dual lines converging. Short-term support is around 93730-92200 for buying, with rebound targets around 95700-98000. A rebound to 100000-101500 can be an opportunity to enter short, targeting around 95770-93730.
ETH
Analysis
Ethereum's daily line dropped from a high of around 2860 to a low of around 2655 yesterday, closing around 2685. The support level is around 2600; if it breaks, it could drop to around 2540. A pullback can be an opportunity to buy. The resistance level is around the MA7 moving average. MACD shows increasing bearish momentum. On the four-hour chart, the resistance is around MA14; if it breaks, it could reach MA30. MACD shows decreasing bullish momentum and signs of a death cross. Short-term support is around 2610-2535 for buying, with rebound targets around 2800.
Disclaimer: The above content is personal opinion and for reference only! It does not constitute specific operational advice and does not bear legal responsibility. Market conditions change rapidly, and the article may have some lag; if you have any questions, feel free to consult.
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