Tracking real-time hotspots in the currency circle, seizing the best trading opportunities. Today is Friday, March 8, 2024, and I am Yibo! We do not predict trades, but actually observe market fluctuations (narrowing, diffusion), structure (market batch structure), and sentiment (external market such as US stocks, USD, etc.). As a trader, you (through trading) affect prices, and prices also affect your emotions and behavior.

Bitcoin rose slowly yesterday, reaching a high near 68100 in the early morning, but each rise was accompanied by a small pullback. The overall fluctuation is running within a range, and there is no sign of a strong breakthrough. Currently, the price is running at 67000 for recovery. The technical structure is still in a slow recovery state. Once the support is confirmed after the downside, the rebound will follow. In the early morning, we seized this point to follow up. After the bullish force on the daily chart, it is currently stagnant, which is what we often call a consolidation trend. The short-term trend is repeatedly fluctuating between long and short positions. If it falls below 66300, it will test the support at 65600. After the daily chart retraces to the ma7 and rebounds, the bullish trend has not been broken. The intraday opening line moves upward with an upper shadow. It is expected that the market will retrace to confirm the support during the day session. The overall situation is still oscillating at a high level, and in the long term, it still looks to break through to new highs. The strategy remains the same as yesterday, treating long positions cautiously and short positions aggressively. The upper resistance is at 67600-68400, and the lower support is at 66300-65600.

Currently, Ethereum is oscillating widely in the range of 3900-3770. In the early morning, Ethereum once again broke through to a new high near 3950, which overall validates yesterday's analysis. It was mentioned before that if it stabilizes at 3900, it will definitely challenge 4000 this week. Although the four-hour chart has broken through to a new high, the trading volume has not followed, forming a double top, and it is expected to have a retracement. The support near 3865 is focused on the downside, and if it falls below, the trend will continue. The recent market is characterized by a step-by-step rise, with a retracement after the breakthrough but not significant. Do not try to guess the peak, and it is best to avoid shorting in 2024. Currently, Ethereum's trend is already stronger than Bitcoin's, and after the speculative news, the future market will definitely have a breakout. For low-level chips, it is recommended to hold them for the long term, with a focus on buying low. The upper resistance is at 3970-4030, and the lower support is at 3865-3800. Pay attention to the upward trend line after the MA moving average arrangement is repaired and broken through. There will be significant volatility tonight due to non-farm payroll data, so it is essential to strictly control position risks.

The Ethereum-related sectors that performed strongly yesterday have all shown varying degrees of weakness today, such as OP, ARB, UNI, etc. The narrative related to the Cancun upgrade is basically nearing its end, and the overall market heat is gradually decreasing, as reflected in the overall decline in volatility, trading volume, and open interest. For the future market expectations, if there is no sustained demand entering, the market will mainly oscillate. Ethereum is expected to surpass $8000 or $10,000, or even higher this year. Although the Bitcoin ETF has attracted all the attention, the positive news for ETH is more. The Dencun upgrade this month will reduce transaction fees on the L2 network, which will enhance network activity and even attract mainstream demand for Ethereum. Most positive sentiment will be evident in the weeks and months following the upgrade. It is expected that the altcoin season will officially start after Bitcoin breaks through its historical high, and the market will usher in a major uptrend, with altcoins starting to surge. Currently, the altcoin market is showing sector rotation characteristics, and investors should seize the opportunity to hold currencies that have not risen and flexibly participate in trading in popular sectors.

In this market, it ultimately comes down to ability. If your ability is insufficient, what the market gives you will eventually be taken back. Therefore, when your wealth exceeds your ability, you need to control the drawdown, even though this control is futile, because that kind of profitable arrogance and arrogance will ultimately destroy a person's rationality. However, in the capital market, we do not have to worry about the situation where our wealth is lower than our ability, because this kind of imbalance will eventually be corrected by time. If it is not corrected, there is only one reason, which is that your ability is insufficient. If you are still in a state of confusion, do not understand the technology, do not know how to read the market, do not know when to enter, do not know how to set a stop loss, do not know when to take profit, randomly add positions, get trapped at the bottom, cannot hold onto profits, and cannot seize the market when it comes. These are common problems among retail investors, but it's okay. You can come to me, and I will guide you with the correct trading mindset. A thousand words are not as good as one profitable trade. Instead of frequent operations, it is better to be precise, making every trade valuable. What you need to do is find me, and what we need to do is prove that what we say is not empty. 24-hour real-time guidance for trading. The market fluctuates quickly, and due to the impact of review timeliness, the main focus for the subsequent market trend is real-time layout in actual trading. Coin friends who need contract guidance can scan the QR code at the bottom of the article to add my public account.

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