Preface: Investment involves risks, please proceed with caution.
Article review takes time, and there may be delays in publication. The article is for reference only, welcome to read!
Time of writing: 11:56, March 15th, Beijing time
Market Information
- In the past hour, the entire network has liquidated $86.62 million, mainly liquidating long positions.
- The website of the U.S. Securities and Exchange Commission (SEC) has crashed.
- Two senators wrote to the SEC, urging the SEC not to approve any other cryptocurrency ETFs.
- The trading volume of Belad IBIT exceeded $3.9 billion yesterday, setting a new record for daily trading volume.
- JPMorgan: Retail investors and institutions have been buying gold and bitcoin futures.
Market Review
Earlier, we expected the market to rise again. The highest point of the market reached 73881, breaking the historical high. Although it did not reach 74000, it came close. The trend of Ethereum is weaker, failing to reach around 4250, and not breaking the high point of 4098. The market started to pull back last night, breaking the rhythm of this upward trend. This upward trend has almost come to an end, and the market will start to undergo a deep correction. It's time for the market to turn downwards. In trading, everyone should not blindly chase after long positions, and should grasp the entry opportunities on their own.
Market Analysis:
BTC:
Looking at the 4-hour chart, the decline last night directly broke the short-term uptrend line. The decline during the day broke the previous two lows. The next low to test is 59112. If this level is broken, a deeper correction will occur. Currently, the bullish trend of Bitcoin is not as strong. Unless it returns above the trend line, I think the chance is not very high. Today is Friday, and the weekend is coming soon. The weekly closing of Bitcoin is likely to form a high-level doji. With this closing situation, it is expected that the market will slowly start to correct next week. Although the market is currently hot and the bullish sentiment is strong, everyone should understand that bull markets have declines, and bear markets have rebounds. In day trading, manage risks and make your own decisions.
ETH:
Looking at the 4-hour chart, the trend of Ethereum is weaker. The decline also broke the previous two short-term lows. The next level to pay attention to is 3205. Currently, there is no support below the short-term Ethereum, and the market could go down at any time. In trading, we should also have a strategy for both long and short positions. At 12 o'clock, the 4-hour chart will change, and there should be a rebound opportunity during the day. It is expected to reach around 3850, and after reaching this point, short positions can be set up. If the high point of 3938 last night is broken, the short position can be abandoned. The target is around 3550-3390. After reaching this level, pay attention to breaking the low point of 3205. If the market breaks this level again, it will go down to 2870. Make your own decisions on entry opportunities and manage risks in day trading.
In summary:
The upward trend of Bitcoin and Ethereum is basically over, and the market will start a deep correction.
The article is time-sensitive, pay attention to the risks, the above is only personal advice, for reference only!
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Opportunities are only useful when seized.
When the probability is on my side, I will act decisively, rather than being indecisive, afraid of losing the opportunity.
A good opportunity is one that you understand how to seize at a glance, rather than staring at the computer for an afternoon, still not sure whether to go long or short.
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