Cryptocurrency News
February 8 Highlights:
1. CFTC will launch a pilot program for the digital asset market and hold a CEO forum to discuss tokenized collateral.
2. A Democratic representative from Maryland proposed a bill to establish a Bitcoin strategic reserve.
3. A former SEC employee released email communications and other internal documents related to Gary Gensler.
4. Spot gold broke through $2883, setting a new historical high, with an intraday increase of nearly 1%.
5. CryptoQuant analyst Maartunn stated that after completing two issuances of $1 billion USDT each last week, the USDT balance on the TRON network is nearing an all-time high.
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 a significant drop occurs, don’t hesitate; this could very well be an excellent opportunity to buy the dip! It’s like treasure hunting in a pile of cheap gems; once you seize the opportunity, the subsequent returns may exceed 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 give you the confidence to face the next challenge.Maintain a Steady Pace in the Afternoon, Avoid the Trap of Chasing Highs
The afternoon cryptocurrency market is like a lively dance party, but hidden dangers lurk within. 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 a significant drop occurs, 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 morning crash can be considered the "black moment" of the cryptocurrency market, but it’s precisely during such times that you must keep a clear head. Don’t rush to cut losses due to momentary 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 follows the darkest moments.Trade with Principles, Reject Blind Operations
In cryptocurrency trading, you must adhere to your principles. Don’t sell until your target price is reached; don’t buy until your expected low price is met. When facing sideways markets, it’s even more crucial to restrain your impulses and avoid blind trading. In such situations, market direction is unclear, and blind operations will only increase risks, putting your funds in jeopardy.Buy on Dips and Sell on Rallies, Operate with the Trend for Stability
When a bearish candle appears, it’s like the market sending you a "low-price entry" signal; at this time, boldly accumulate positions 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 turbulent waters of the cryptocurrency market steadily, reducing risks and increasing returns.Reverse Thinking Wins, Break the Norms to Win the Future
In the cryptocurrency market, public behavior is often misleading. When everyone is frantically chasing prices, you must remain calm, as the market may have overheated and is at risk of a pullback. Conversely, when everyone is panic-selling, you should act decisively, as this could be an excellent opportunity to buy the dip. Reverse operations often allow you to find breakthroughs in unexpected places, reaping substantial rewards.Endure the Consolidation Period, Wait for Clear Trends
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 dictate your actions. Be patient and wait until the trend becomes clear before making decisions. Remember, only by enduring loneliness can you enjoy prosperity.Don’t Get Attached to Highs, Take Profits in Time
When the price consolidates at a high and then surges again, it often signifies the market's "final frenzy." At this point, don’t let greed blind you; take profits in time to secure your gains. The longer you stay at high levels, the greater the risk; a moment of carelessness could nullify your previous efforts.
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 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 trades are not going well, you can come and test the waters.
The data is real, and each trade has a screenshot from the time it was issued.
Search for the public account: Daba Discusses Currency
BTC
Analysis
Bitcoin's daily line fell from a high of around 100,100 to a low of around 95,550 yesterday, closing around 96,500. The support level is around 94,100; if broken, it could drop to around the MA120. A pullback could be a good opportunity to buy. The resistance level is around the MA60; if broken, it could reach around the MA30. The MACD shows an increase in bearish momentum. On the four-hour chart, the resistance level is around the MA30; if broken, it could reach around the MA360 yearly line. The MACD shows a decrease in bullish momentum and is forming a death cross.
ETH
Analysis
Ethereum's daily line fell from a high of around 2,800 to a low of around 2,560 yesterday, closing around 2,620. The support level is around 2,565; if broken, it could drop to around 2,345. A pullback could be a good opportunity to buy. The resistance level is around the MA7; if broken, it could reach around the MA200. The MACD shows an increase in bearish momentum. On the four-hour chart, the resistance level is around the MA14; if broken, it could reach around the MA30. The MACD shows an increase in bearish momentum and is forming a death cross.
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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