Crypto News
March 30th Hot Topics:
1. The net inflow of spot Bitcoin ETF was approximately 210 million USD on March 29th.
2. Approximately 14,765.47 BTC have been withdrawn from exchange wallets in the past 24 hours.
3. An address containing 500 BTC that had been dormant for 11.7 years was activated about 1 hour ago.
4. Custodia Bank lost the lawsuit against the Federal Reserve's refusal to approve its main account application.
5. The launch date for DOGE contracts on Coinbase Derivatives has been postponed to April 29th.
6. ConsenSys submitted a comment letter to the US SEC, advocating for the approval of spot Ethereum ETF.
Trading Insights
First: Capital - It is not recommended to invest a large amount of capital at the beginning, as it is a risky market. No one can guarantee absolute safety. The most important thing is to be prepared for the worst before investing capital. If your investment results in a loss, consider whether it will impact your life and family. If it does, proceed with caution. If not, then you can consider participating. Although the goal of participating in the cryptocurrency market is to make money, it is also important to be prepared for the worst. If you can accept the worst-case scenario, then there is nothing you cannot handle.
Second: Operations - Learn how to analyze market trends and make transactions. Because making money is your own responsibility, and losing money will only cause you distress. You should have your own operational strategy, but do not blindly make transactions. When necessary, it is important to listen to professionals.
Third: Mentality - There is a saying in the investment market, "You make money with money, but you play with your heartbeat." When your funds start to increase, do not become overly confident or go all-in, trying to get rich quick. If you make a mistake, you could lose everything. When your funds decrease, do not panic. Stop making transactions and reflect on your operational methods. Did you try to earn a little more from a trade that was supposed to be closed, or did you make an error in analysis, among other reasons?
In the current cryptocurrency market, investors in contract trading have different amounts of capital. Large capital has its advantages, but small capital requires different operational methods. With small capital, you can engage in short-term trading, both long and short positions, as long as you identify key support and resistance levels. For large capital, we will strategically plan medium to long-term positions, focusing on trends. When engaging in medium to long-term trading, it is essential to gradually build positions at relatively stable levels during a major uptrend and hold until the target is reached. Long-term trading is similar to medium-term trading, but it requires a higher capital requirement due to stricter trend analysis. Many investors do not know how to control position risks, which is a major mistake!
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BTC
Analysis
Bitcoin followed the expected trend yesterday, showing an overall trend of oscillation and decline. It dropped to the support level around 69,000 before rebounding, and encountered resistance around 70,160. Congratulations to those who followed the trend and profited from long positions by a thousand points. Currently, the price is running near 69,980. On the four-hour chart, the market fell back to test the support at 69,000, with consecutive positive candlesticks. However, the rebound was not significant. The MACD is running bearish with a downward crossover, indicating a lack of strength in the short-term market. It is anticipated that there is still a demand for further decline, and the trend is leaning towards a retreat. The overall market is still characterized by narrow-range oscillation with limited space. On the daily chart, there is a back and forth struggle between bulls and bears, fluctuating around the 70,000 level. It is easy to be washed out in the short term, so it is advisable to observe more and act less. Pay more attention to strong altcoins and consider making strategic moves. For long-term positions, continue to hold. It is easy to exit, but good positions are scarce. The upper resistance is at 70,500-71,500, and the lower support is at 69,000-68,300.
ETH
Analysis
Ethereum's trend is consistent with Bitcoin's. Yesterday, it showed an overall trend of oscillation and decline, dropping to the support level around 3,472 before rebounding, and encountering resistance around 3,525 before falling again. Currently, the price is running near 3,487. On the four-hour chart, the market is oscillating and falling, but the amplitude is not significant. The support at 3,460 has not been broken in the short term, and the MACD is bearish but has not entered a state of a downward crossover. The trend is weak, with a risk of further decline. If 3,460 is breached, pay attention to the 3,400 support level. Looking at the daily chart, there is a high probability of oscillation within the range of 3,700-3,400, and there will not be significant fluctuations in the short term. Patience and holding positions are the best choices. The upper resistance is at 3,560-3,600, and the lower support is at 3,460-3,400.
Disclaimer: The above content is for personal reference only and does not constitute specific operational advice, nor does it bear legal responsibility. Market conditions change rapidly, and the article has a certain lag. If there is anything you do not understand, feel free to seek advice.
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