Tracking real-time hotspots in the currency circle, seizing the best trading opportunities, today is Thursday, February 29, 2024, I am Yibo! We are not predicting trades, in fact, we are observing market fluctuations (narrowing, diffusion), structure (market batch structure), emotions (external market US stocks, US dollars, etc.), as a trader, you (through trading) affect the price and the price also affects you (emotions and behavior).

Bitcoin prices once soared to over $64,000, reaching their highest level since November 2021, with a cumulative increase of over 40% since the beginning of this year. And it is still continuing to rise. There are several main reasons for the recent rise in Bitcoin prices. First, the approval of Bitcoin exchange-traded funds (ETFs) and continuous inflow of funds have provided strong demand support for the market. Second, the upcoming Bitcoin "halving" event, expected to occur in April this year, is expected to reduce the supply of Bitcoin, thereby potentially driving up prices. In addition, institutional investors such as MicroStrategy continue to increase their holdings of Bitcoin, which has also increased market confidence in Bitcoin. These factors together have driven the rise in Bitcoin prices, making it likely to continue to rise in the short term.

Yesterday, the big cake rose strongly, breaking through all the way, with an increase of over 10%, constantly refreshing its high points, and the price reached as high as 64,400. A quick retraction followed a 5,000-point spike in the early morning, and the four-hour level continues to wait for the closure of the Bollinger Bands. Looking at the hourly level, there is no pressure above the historical new high. However, at present, there is actually not much pressure. Pressure is meant to be broken through. Looking at the daily chart of the big cake, continuous large positive candles have broken through new highs, and the bullish volume operation and the full-bodied candle energy indicate that the market trend will continue. After the short-term bullish breakout, the retracement strength is obviously weak, so short-term participation in low long positions is still possible. The four-hour continuous positive trend shows strong bullish momentum, and after a brief consolidation at the high level, there has not been much retracement, so the market is still mainly for long positions. At present, it seems that there will not be too much volatility, with resistance above at 62,500-63,200 and support below at 60,500-59,400.

The upgrade time for Ethereum Dencun has finally been confirmed to be 21:55 on March 13. This wave is a mainnet upgrade, not the various testnet scams before. This upgrade should be the most important one since the last merge, including the legendary eip4844, namely protodanksharding. This upgrade can reduce L2 transaction costs. Today, the Polgon Fed also mentioned that the upgrade will increase ETH's data capacity and data availability. It is worth noting that data availability DA has already appeared as a separate track, so this upgrade is a major positive for ETH, and speculation is sure to come. Many partners have asked how high the big cake may reach in the short term? If there is a pullback, what is the expected low point? Objectively speaking, these two questions cannot be answered at present. From a macro perspective, as long as the net inflow of funds from ETF institutions remains unchanged, the big cake will continue to rise. The game between limited long leverage and almost unlimited institutional funds in the market.

Ethereum showed an overall oscillating upward trend yesterday, reaching a high of 3499 before quickly falling back, and then rebounding after falling to 3185. The volume surge yesterday's high was within expectations. Of course, the target of the second wave's rise in space and volume will be released sooner or later, it's just that it came so quickly. After the space and volume are released, a short-term second wave adjustment may be constructed, with local consolidation or retracement correction at the short-term high point, depending on the size of the retracement space, which can be large or small. A large space means a deep adjustment, while a small space means horizontal consolidation and correction. With a larger wave base, there are more opportunities, and grasping positions in both long and short directions. Flexible response combined with form is recommended. The MACD is running in a bullish manner, but the overall slow upward trend without volume has not broken the previous high, and a retracement is expected. Support below at the 7-day and 14-day moving averages, and if not broken, the upward trend will continue. The daily level shows a bullish arrangement and accelerated rise, and a short-term top is expected to form. If the daily level does not break the new high, it will maintain a high-level oscillation. It is recommended to follow the trend in a bullish environment. Although there are spikes, they are not enough to change the trend. The strategy suggests that short-term long positions should be the main focus, with high short positions as a supplement, with resistance above at 3450-3530 and support below at 3350-3380!

In this market, it ultimately comes down to ability. If your ability is insufficient, what the market gives you will eventually be taken back. Therefore, when your wealth exceeds your ability, you need to control the retracement, although this control is futile, because that kind of profitable arrogance and arrogance will ultimately destroy a person's rationality. However, in the capital market, we don't have to worry about the situation where our wealth is lower than our ability, because this kind of imbalance will eventually be corrected by time. If it is not corrected, there is only one reason, and that is your own lack of ability. If you are still in a state of confusion, don't understand the technology, don't know how to read the market, don't know when to enter, don't know when to stop loss, don't know when to take profit, randomly add positions, get trapped at the bottom, can't hold onto profits, and can't seize opportunities when the market comes. These are common problems among retail investors, but it's okay, you can come to me, and I will guide you in the right direction for trading. A single profitable trade is worth more than a thousand words. Instead of frequent operations, it's better to be precise, making every trade valuable. What you need to do is find Yibo, and what we need to do is prove that what we say is not empty. 24-hour real-time guidance, the market fluctuates quickly, due to the impact of review timeliness, for the subsequent market trends, real-time layout based on actual trading is the main focus. Coin friends who need contract guidance can scan the QR code at the bottom of the article to add my public account.

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