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, thank you for reading!
Time of writing: 11:30, March 26, Beijing time
Market Information
- The London Stock Exchange announced that it will accept applications for the listing of Bitcoin and Ethereum ETNs starting from April 8.
- Xu Zhengyu: Will ensure the sustainable growth of cryptocurrencies.
- Grayscale's Chief Legal Officer: Believes that the Ethereum spot ETF will be approved in May.
- Head of Digital Assets at Goldman Sachs Asia Pacific: Goldman Sachs is actively promoting asset tokenization and investing in blockchain infrastructure companies.
- The probability of the Federal Reserve maintaining the interest rate in May is 89.9%.
Market Review
Bitcoin (BTC) saw a breakthrough yesterday as expected, reaching a rebound high at the 71228 level. Our previous prediction was near the 71100 level, which was basically achieved. The market did not continue to rise, instead experiencing a small pullback. Ethereum (ETH) also followed Bitcoin's breakthrough, reaching a high of 3665 without reaching 3700. As mentioned earlier, Ethereum's trend is relatively weak, but it still brought certain profits. Congratulations to those who followed our advice and profited from this rebound.
Market Analysis
BTC:
Looking at the 4-hour chart, after reaching the pressure near 71100, Bitcoin did not experience a drop with upper shadow lines. As mentioned in the previous article, if there is no upper shadow line, there may be a chance for a new high. Watching for the opportunity to close the line during the day session, the 71100 pressure is the focus of short-term and long-term upward movement, pointing to the 71100 level. There is still pressure in the short term, and it is suggested to consider short positions near the 71100 pressure during the day session. If there is a pullback after a rise during the day session, it would be even better. As long as it does not break 73881, there is still a chance of a decline. Pay attention to the situation of breaking the pressure level during the day session. If not broken, the expected decline range is 65700-64200. Take control of the risk in short-term trading, and manage profits and losses on your own.
ETH:
Looking at the 4-hour chart, Ethereum's upward momentum is not strong enough to reach the 3700 pressure level. Currently, Ethereum's trend is relatively weak, mainly following Bitcoin's passive rise or fall. The market funds are used to push Bitcoin, so Ethereum does not have much capital to push up. If Bitcoin starts to decline during the day session, Ethereum will also follow suit. The pressure in this wave is in the 3700-3800 range. If Ethereum reaches this range and closes with a long upper shadow line, consider opening a short position. There may still be upward movement during the day session, and the rebound and pullback range is 3420-3350. There is still considerable profit potential below. It is recommended to observe first in trading, and then consider positioning. Take control of the risk in short-term trading, and manage profits and losses on your own.
In summary:
Bitcoin has reached the pressure level, but there is no long upper shadow line. Wait for the opportunity to short during the day session before positioning.
The article is time-sensitive, pay attention to the risks, and the above is for reference only!
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Opportunities are only meaningful when seized, not just observed.
When the probability is in my favor, I will act decisively, rather than being indecisive for fear of losing out.
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