Crypto News

March 16th Hot Topics:

1. The cumulative net inflow of spot Bitcoin ETF reached $12.16 billion in 45 trading days.
2. Grayscale: Revised Form 19b-4 for Ethereum Trust has been submitted to the U.S. SEC.
3. President of El Salvador: Daily investment of 1 Bitcoin will continue until the day when Bitcoin cannot be purchased with fiat currency.
4. Bloomberg: Cryptocurrency giants' funds have made a comeback after a period of low trading volume.
5. Due to the lower management fees of the U.S. spot Bitcoin ETF, investors from around the world are pouring in.

Trading Insights:

1. Always be an honest and objective person in the market, neither deceiving others nor deceiving oneself. Have a sincere dialogue with the market, love the market, and learn to be friends with the market.
2. The market is a school that one can never graduate from. Always maintain a humble and cautious attitude. Keep a calm mind and be an ordinary person. Always have a sense of awe for the market.
3. Contentment brings lasting happiness. There is endless money in the market, but more money can also lead to greater losses.
4. Always maintain the ability to perceive good things in the trading process.
5. Always believe in yourself. In the market, only you can control your own destiny. Be unfazed and compete only with yourself.
6. The market is always right. Believe in what you see in the market. At the same time, remind yourself that anything can happen in the market.
7. Firmly believe in the power of market trends. Following the trend will yield twice the result with half the effort, while going against the trend will ultimately lead to misfortune.
8. The most important thing in the market is the ability to survive. As long as you are alive, there is an opportunity. The primary goal is to protect capital. Dare to admit mistakes to the market and avoid unnecessary losses due to a single misjudgment.

Search for the public account: "Big White on Coins"

BTC

Analysis:

Bitcoin experienced a significant decline yesterday, reaching a low of around 65600 before rebounding in a V-shaped pattern. It reached a high of 70630 before being resisted. Congratulations to friends who followed this strategy and profited from long positions by 4000 points. Currently, the coin price is running near 69000. The four-hour chart did not break through the 65,000 support level, indicating that the bullish trend still exists. The MACD histogram shows a shrinking bearish volume and converging lines, indicating a short-term trend reversal. However, the rebound is not too strong, and the overall situation is oscillating between the MA60 and MA90 moving averages. The daily chart shows consecutive declines, with a high-level MACD death cross. Although the indicators lean towards bearish, the probability of breaking the previous low is not high at the moment. The weekend is expected to be dominated by oscillations, with a retest of the support level followed by a buildup to break new highs. This will be followed by a deep retracement, but it does not signify the end of the bull market. The strategy remains focused on buying low, with resistance at 70500-71500 and support at 68300-67500.

ETH

Analysis:

Ethereum also experienced a significant decline due to the overall market impact, reaching a low of around 3570 before rebounding. Congratulations to friends who followed yesterday's strategy and profited from long positions by 200 points. Currently, the coin price is running near 3720. The four-hour chart oscillated and rebounded after finding support at the MA120 moving average, and the second dip did not break the previous low. The bearish trend is gradually shrinking, with converging lines, indicating a short-term trend reversal and repair through oscillation. The overall trend is weak, with consecutive declines on the daily chart and bearish indicators. There may not be significant market movements over the weekend. The future outlook for Ethereum is still promising, especially if the spot ETF for Ethereum is approved. The strategy remains unchanged, focusing on holding long positions, with resistance at 3800-3900 and support at 3640-3560.

Disclaimer: The above content is for reference only and does not constitute specific operational advice, nor does it bear legal responsibility. Market conditions change rapidly, and the article has a certain lag. If there are any areas that are not understood, feel free to consult.

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