Crypto News
March 4th Hot Topics:
- The total open position of BTC options across the network is $22 billion.
- There were liquidations totaling $325 million in the past 24 hours.
- The total market value of cryptocurrencies has exceeded $2.5 trillion.
- The probability of the Federal Reserve maintaining the interest rate in March is 96.0%.
- Analysts: Approximately $48.54 billion has flowed into the crypto market in the past 30 days.
Trading Insights
When engaging in futures trading, mindset should take precedence over technical skills. Only by cultivating a calm mindset can one navigate the complex market. In futures trading, investors should be able to restrain arrogance, impatience, greed, and fear. While investment indeed carries high risks and high returns, it is crucial to always adjust one's mindset to a neutral state. During profitable times, one should not become complacent, and during losses, one should not lose confidence. For example, after identifying a promising futures contract and establishing a position, there may be a period of 2-4 days of minor rebound or sideways consolidation. During this time, impatience should be avoided, and sufficient patience and endurance should be exercised to prevent forced liquidation during favorable market conditions. Those who cannot withstand the volatility of the crypto market, have fragile mental states, seek quick gains, or are impatient are not suitable for entering the crypto market.
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BTC
Analysis
Bitcoin remained in a narrow range over the weekend, with little fluctuation. In the evening, the bulls made a strong move, pushing the price up to around $49,200 before encountering resistance and falling back. Congratulations to friends who followed the low long strategy and gained nearly 3,000 points. Currently, the price is hovering around $63,655. On the four-hour chart, the price fell to the MA30 moving average support and rebounded. The bullish trend remains unbroken. Subsequently, the candlesticks moved up in small steps, forming consecutive positive trends. The MACD showed a decrease in bearish volume and signs of a golden cross. Although the short-term market has broken through the previous high, the trading volume has not followed suit. Attention should be paid to the strength of the pullback. The bulls are relatively strong, and the expected pullback space should not be too large. On the daily chart, the market is still oscillating at high levels. Despite the breakthrough, attention should be paid to the closing price. The overall trend remains bullish, and multiple pullbacks have been followed by strong rebounds, indicating strong support. Although the short term is in a range-bound state, the long-term outlook remains positive. Therefore, maintaining a low long strategy during pullbacks is the main approach. Resistance above is at $64,200-$64,800, and support below is at $63,000-$62,200.
ETH
Analysis
Yesterday, Ethereum retraced to the support level around $3,360 and rebounded, then surged to a new high of around $3,526 before encountering resistance. Congratulations to friends who followed the low long strategy and gained over 100 points. Currently, the price is hovering around $3,480. On the four-hour chart, the candlesticks pierced through the consecutive positive trend, with support from the MA30 below. The bullish trend remains unbroken, and the MACD shows a decrease in bearish volume and signs of a golden cross. Although the short term has broken through the new high, it has not been able to sustain the breakout, and a pullback is expected. Support below is at $3,360. If it holds, the price will continue to rise. On the daily chart, the market surged and then fell back, but this does not mean that the market is dominated by bears. The current trend is in a phase of repair and consolidation, with multiple retracements forming a base. Once the consolidation is complete, another rally will occur. Therefore, short positions should not be rushed, and the strategy should focus on maintaining a low long position, with short positions as a secondary approach. Resistance above is at $3,530-$3,580, and support below is at $3,440-$3,360.
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 is anything you do not understand, feel free to consult.
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