Cryptocurrency News
March 2nd Hot Topics:
- The US spot Bitcoin ETF currently holds nearly 4% of the total Bitcoin supply.
- Bank of America: US debt increases by $1 trillion every 100 days, benefiting assets such as Bitcoin.
- Grayscale report: Stubborn inflation and delayed or hindered interest rate cuts impede the valuation of cryptocurrencies.
- Ethereum meme coin trading volume surged by 61% in February, exceeding $6.4 billion.
- GBTC outflowed $492 million on March 1st.
Trading Insights
In this market, investing without a plan is like a small boat floating in the sea, with the possibility of capsizing at any time. Being a weak investor does not entitle you to preferential treatment. Only those who are prepared can survive in this market.
The biggest enemy in trading is not the market, but the traders themselves. Every failed experience indicates that it's not the market being too clever, but rather us being too clever and self-righteous. The market is simple; it's human nature that's complex. Greed may lead to heavy and frequent trading, fearing to miss any market movements.
There will always be right and wrong times. Never rely on being 100% accurate. No one will always profit and never lose. The key is to learn to cut losses in a timely manner.
After making a trading mistake, it's better to find a solution promptly rather than complaining within the community. The trading market has no sympathy for a losing investor. Complaining is only self-consolation, and in the eyes of others, it's a joke. Instead of this, it's better to think of ways to solve the problem.
Search for the public account: "Big White's Coin Analysis"
BTC
Analysis
Bitcoin's price fluctuated slightly yesterday. It rebounded after testing the support level around 61160 in the evening, reaching a high of 63100 before falling back. Congratulations to friends who followed the low long strategy. Currently, the price is running near 62240. On the four-hour chart, the price has surged back above the MA7, but the rebound is not strong. The short-term high points are gradually decreasing, and the MACD is running bearishly with a downward crossover. There is an expected downward demand, but the space will not be too large. The current trend is oscillating at high levels, and the daily level continues to maintain the strategy from yesterday. Although there is selling pressure, it's not a big problem. After the market digests, it is expected to break through the historical high point. It's just a matter of time. The personal strategy still maintains the low long as the main operation and the high short as the auxiliary. The upper resistance is at 62800-63800, and the lower support is at 61000-60500.
ETH
Analysis
Ethereum showed a overall oscillating upward trend yesterday, reaching a high of 3450 before falling back. The strong support at 3380 stopped the decline and rebounded again. Congratulations to friends who followed the low long strategy. Currently, the price is running near 3424. On the four-hour chart, the incremental upward movement is not significant, and there is strong resistance above in the short term. The MACD is running bearishly with a downward crossover, and the volume is not significant. There is a demand for a pullback, and the space is not expected to be too large. In the short term, do not rush to enter long positions and pay attention to the strength of the pullback. From the daily chart, it is facing a pullback. Pay attention to whether 3350 can hold. If not, it will test the MA7 moving average. The short-term resistance is expected to consolidate for a period of time. In the short term, the direction is bullish, and in the long term, continue to hold the low long. The upper resistance is at 3460-3500, and the lower support is at 3350-3300.
Disclaimer: The above content is personal opinion and is for reference only. It 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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