Crypto News

February 29th Hot Topics:

1. A whale has deposited 600 BTC to the exchange in the past 3 days and currently holds 4,500 BTC.
2. The third largest Bitcoin holding address increased its holdings by 4809 BTC today, with a cumulative unrealized profit of $4.1 billion.
3. Snowden: It is expected that sovereign governments will continue to purchase Bitcoin this year.
4. Mysterious address "Mr.100" has once again increased holdings by 1500 BTC.
5. Nine new spot Bitcoin ETFs have reached a daily trading volume of $2.6 billion, breaking historical records.

Trading Insights

1. Many traders often make the mistake of trading too frequently, not carefully selecting the right trading opportunities. Trading impulsively when seeing market fluctuations is forcing oneself to trade, rather than patiently waiting for good trading opportunities.
2. Successful traders profit because they have done a lot of patient work before entering the market. Many people start to underestimate trading after making a profit, leading to frequent operations. Subsequent losses can lead to significant losses, even wiping out the capital.
3. The worst trades stem from impulsiveness. The most destructive mistake in trading is excessive impulsiveness. Everyone should act according to established trading signals and never hastily change trading strategies due to impulse. Therefore, avoiding impulsiveness is the first element of risk control.
4. Engaging in trading requires learning to control risks. You must be prepared for the worst, so you must operate in small amounts and control each loss between 1% and 2% of the capital.

Search for the public account: "Big White Coin Forum"

BTC

Analysis

After a sideways shock yesterday, Bitcoin chose to continue its upward trend. The bulls were relatively strong, reaching a high of 63850 before quickly falling back to the support near 58700. Congratulations to friends who followed the low long strategy and gained 7000 points. Currently, the price is running near 61400. The four-hour chart shows an upward trend along the MA7, although it closed with a doji candle, the pullback did not continue. The MACD is in a bullish state with a golden cross of the two lines, and the MA moving averages are diverging upwards. The overall trend is biased towards the bulls. If it does not break through the new high, the market will maintain a shock. The daily chart shows the bulls gradually increasing volume, with five consecutive bullish candles breaking through multiple resistances. The daily chart is severely overbought, so the risk should be noted. It is expected to continue to rise with minimal pullbacks this year. A 20-30 point pullback is an opportunity to enter long positions. The strategy suggests focusing on long positions with short positions as a supplement. Resistance above is at 63000-64000, and support below is at 61000-60000.

ETH

Analysis

Ethereum showed a overall oscillating upward trend yesterday, reaching a high of 3485 before quickly falling back. After falling to 3180, it rebounded again. Congratulations to friends who followed yesterday's strategy and gained nearly 300 points in long positions. Currently, the price is running near 3394. The four-hour chart retraced to the MA14 and rebounded after a needle, returning to run above the MA7 moving average. The price tested the previous high twice but failed to break through, then fell back. The MACD is in a bullish state but lacks volume, showing a slow upward trend. It is expected to retrace after failing to break the previous high, with attention to the support of the MA7 and 14-day moving averages below. If not broken, it will continue to rise. The daily chart shows a bullish arrangement and accelerated rise, indicating a short-term peak. If the daily chart does not break the new high, it will maintain a high-level shock. In a bullish environment, it is recommended to follow the trend. Although there is a needle, it is not enough to change the trend. The strategy suggests focusing on long positions with short positions as a supplement. Resistance above is at 3450-3530, and support below is at 3330-3250.

Disclaimer: The above content is for reference only and does not constitute specific operational advice, nor does it bear legal responsibility. The market situation changes rapidly, and the article has a certain lag. If there is anything you don't understand, feel free to consult.

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