The approval of the ETF for Bitcoin has led to short-term supply shortages, causing prices to hit new highs in the past 50 days. Although Bitcoin currently has a market value of $1.2 trillion, 70% of it is hoarded in wallets, making it easy to control the on-exchange market price, with approximately 200,000 coins being able to influence short-term price behavior.

On February 29th, after Bitcoin surged to a high of 64480, some funds were dumped, causing prices to instantly drop by 9%, resulting in liquidation of 180,000 users. Therefore, a very strong support and resistance level has been formed between 64480 and 58630. Prices will consolidate in this range for a long time to consume profit and trapped positions.

Based on this, the short-term strategy for Bitcoin is quite clear - sell high and buy low. The first key resistance levels are 62244, 63277, and 64480, while the first key support levels are 60863, 60000, and 58627. Traders only need to layout corresponding long and short positions at different levels to achieve substantial profits.

Although the trend of Ethereum lags behind Bitcoin, it is essentially the same. Prices will undergo a long period of washing between 3540 and 3156. The strategy of selling high and buying low still applies. The first key short position layout is at 3457.88, the second key position is 3540, the first support target is 3302, the second key article is 3246, and the third key support is 3156.

Other varieties that depend on the price trend of Bitcoin can also be divided into intervals based on the time points of Bitcoin. Some trading pairs have their own independent trends, such as the previously popular WLD, which started its peak and pullback earlier. In our discussion group, more accurate predictions have also been made.

There are many other trading pairs with various rhythms, and it is not convenient to discuss them in detail due to space limitations. Friends who need real-time advice and analysis are welcome to join the discussion.

Feel free to join the community discussion and get the latest information and analysis through the official account: "赌Chang悟道". Please indicate the source when reposting, thank you.

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