Cryptocurrency News
April 30th Hot Topics:
1. Spot Bitcoin and Ethereum ETFs started trading in Hong Kong, with all 3 Bitcoin ETFs rising by more than 3%.
2. TD Cowen: The US SEC is unlikely to approve spot Ethereum ETFs before 2025.
3. MicroStrategy purchased 122 BTC in April.
4. 6 virtual asset spot ETFs were listed and opened for trading on the Hong Kong Stock Exchange.
5. Bosera HashKey Bitcoin and Ethereum ETF units support virtual asset subscriptions and cash redemptions.
Trading Insights:
- Short-term trading is feasible, but frequent trading is not advisable.
- Avoid impromptu operations and refrain from being overly hasty in trading.
- It is easier to profit from obvious trends, so avoid trading when the trend is unclear.
- Do not gamble on the direction. Only consider a change in trend when the time or magnitude exceeds the previous trend.
- Avoid heavy positions to prevent being at a loss due to minor fluctuations.
- Do not reduce stop-loss positions for the sake of expanding positions, leading to frequent stop-losses and ultimately being unable to withstand normal fluctuations.
- Do not intervene or add positions during sharp rises, falls, or significant fluctuations.
- The determining factor for winning or losing is the position, not the direction. Therefore, it is essential to build positions during a major trend correction.
- Close positions at the first reversal after a sharp rise or fall to prevent a trend reversal.
- Making money with the trend requires a slow pace, while sudden gains (rebound) and losses require a quick response.
Search for the public account: "Big White Coin Forum"
BTC
Analysis:
Bitcoin showed an overall downward trend yesterday, reaching a low near 61800 before rebounding. In the morning, the bulls accelerated the rise to the 64720 level but were resisted. Congratulations to friends who followed this strategy and gained over 2000 points in long positions. Currently, the price is running near 63480. On the four-hour chart, the market rose and fell, forming an upper shadow line. The MACD bull run has both lines sticking together, but the upward momentum is not strong. Currently, it is also supported by the Bollinger Bands' midline, and the probability of breaking through is not high. If the closing price can stay above 63800, the market will stabilize. Looking at the daily chart, the price is testing the lower trend line again, with the candlestick showing a shift from bearish to bullish. Although the market is falling, the bearish volume is insufficient. The focus is still on whether the 60,000 support can hold. Be prepared for both scenarios. The long-term outlook for an uptrend remains, but the oscillation period has been extended. Short-term trading carries higher risks, so it's best to enter and exit quickly. Resistance levels are at 64500-65800, and support levels are at 63000-62500.
ETH
Analysis:
Ethereum has shown a trend of rising and falling in the past two days. In the early hours yesterday, the price reached the 3360 level, then fell all the way to the 3115 support before rebounding. Currently, the price is running near 3190. On the four-hour chart, the candlesticks turned negative after consecutive positive ones and formed a bearish engulfing pattern. The MACD is in a bearish run with a death cross and downward movement. The trend leans towards a pullback, but the support below is strong, making a continued decline unlikely. If the closing price can stay above 3200, it is expected that the bearish trend will stop, and the probability of a consolidation phase is high. Looking at the daily chart, the high points are gradually decreasing under the pressure of the MA30 moving average, indicating a weak market. It is expected that only the ETF in May will bring about a significant market rally if approved. The current trend suggests observing more and taking fewer actions. For the long term, continue to hold and wait. Resistance levels are at 3250-3280, and support levels are at 3150-3100.
Disclaimer: The above content is purely personal opinion and is for reference only. It does not constitute specific operational advice and does not bear legal responsibility. Market conditions change rapidly, and the article has a certain lag. If there are any areas that are not understood, feel free to consult.
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