Crypto News
March 13th Hot Topics:
- The US SEC announced the invalidation of the registration statement for the Bitcoin ETF of Tianqiao Capital.
- Grayscale reduced its holdings by 4,421 BTC on March 12th, while BlackRock increased its holdings by 7,770 BTC.
- The US demands that the former CEO of Binance, Zhao Changpeng, surrender all passports to a third-party custodian.
- Trump has obtained enough delegate votes to win the Republican presidential nomination.
- Santiment: When Bitcoin continues to reach new highs, the number of wallets holding over 1000 BTC decreased by 105.
Trading Insights
In the crypto circle, losses are not frightening, but meaningless losses are; being stuck in a position is not frightening, but not handling it correctly and getting deeper into it is; the market is not frightening, but blindly trading without analyzing the market and following the trend is. People are watching while you act when the opportunity arises. Trading requires courage, and holding requires confidence! Do not expect to buy bottoms and sell tops every time, but rather, avoid greed and panic, and aim to secure the profits that are within reach. Treat every market fluctuation with a calm mind, avoid greed and panic, and do not strive to become an expert at buying bottoms and selling tops, but rather aim to trade with the trend, make steady profits, and secure gains. Those who worry and fear will continue to do so, while those who make money will continue to do so. Any situation is a test of our psychological qualities, and any market follows natural laws; survival of the fittest, and the elimination of the inferior. Thinking is the problem, doing is the answer; losing comes from hesitation, winning comes from action! This is the market!
Search for the public account: Big White on Coins
BTC
Analysis
Bitcoin's price fluctuated insignificantly during the day yesterday, and in the evening, it surged to around 73,000 but was resisted, then quickly fell back. The lowest point was around 68,640, where it found support and rebounded. Congratulations to friends who followed yesterday's strategy and profited from both long and short positions, totaling 7,000 points. Currently, the price is running near 72,050. After the four-hour candlestick pierced, there was a rebound, and the MACD showed a bearish trend with a death cross of the two lines pointing downwards. However, the downside space is limited. In the short term, attention should be paid to the suppression of the MA7 moving average. Only a breakthrough would indicate a continuation of the upward trend. Currently, the trend shows oscillation at a high level. Looking at the daily chart, there is a possibility of a bullish reversal. The trend is consistent with the strategy, and the bulls are relatively strong. There is unlimited upside potential, so it's not wise to guess the top. With this rate of increase, reaching 100,000 is not out of the question. The suggested strategy remains to focus on long positions at lower levels, with resistance above at 73,000-74,000 and support below at 71,000-70,000.
ETH
Analysis
Ethereum surged and then fell back yesterday. In the early morning, the price fell to the support level around 3,830 and rebounded. Congratulations to friends who followed yesterday's strategy and profited from long positions, gaining 200 points. Currently, the price is running near 4,040. The four-hour chart shows a continuous decline to the MA60 moving average support, with the candlestick showing a rebound. The MACD is bearish with no volume, and the two lines are sticking together. Currently, the bearish trend has stopped, and the price has pulled back above the MA7, indicating the bulls are relatively strong and there is a possibility of another surge. Looking at the daily chart, the candlestick has turned from bearish to bullish. Although there is selling pressure, it does not have a significant impact on the current situation. Every dip is an opportunity to boldly buy in. In this bull market, it is only in the middle term at most, and the future is immeasurable. Resistance above is at 4,100-4,200, and support below is at 4,000-3,950.
Disclaimer: The above content is purely personal opinion and is for reference only. It does not constitute specific trading advice, nor does it bear legal responsibility. Market conditions change rapidly, and the article has a certain lag. If there is anything you don't understand, feel free to consult.
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