Market laws, twists and turns, reincarnation, internal cultivation, external practice, the road ahead is long. Doubt can filter risks, but it can also lead to missed opportunities. To seize opportunities, one must be brave enough to try. Different attitudes towards life yield different results. Without great ambitions, even with the help of influential people, one will ultimately achieve little. Countless difficulties are not insurmountable. The success story of an investor is actually a history of learning and growth. The road is tough, but don't forget the original intention, and you will eventually succeed.

Market Review:

On Friday, Qin Chuan publicly announced a short position layout at 72300 and aimed to see 66000, and also successfully activated a long position, with a total profit potential of over 7000 points. Successfully predicted the support level of Ethereum at 3420, seized the opportunity and gained a profit of 200 points. Overall, it was a great success. Congratulations to the followers!

2024.3.18 BTC————————

Bitcoin formed a high-level doji candle on the weekly chart, indicating a retracement to find support. After a high and then a fall in the morning, the price is currently fluctuating around 67000, absorbing funds. On the daily chart, the MACD has switched from bullish to bearish, and the bearish momentum continues to increase. The fast and slow lines have formed a death cross at a high level, and the KDJ is at the bottom. Overall, the daily chart indicates a bearish sentiment, with resistance around 69500 and strong support around 62200-62500. In the short term, the price is in a Bollinger oscillation market, with no clear trend. At the four-hour level, there are no specific reference points at the moment. Aggressive traders can consider shorting around the current price for a short-term support level at 64000. On the hourly chart, Bitcoin is currently at a short-term support level. The MACD shows bullish momentum, but it does not mean there won't be a second wave of selling. In summary, it is suggested to continue to focus on long positions for Bitcoin.

Pending Orders:

Long at 64000-64300, stop loss at 500

Short at 70300-70800, stop loss at 500

2024.3.18 ETH————————

Ethereum formed a bearish candle on the weekly chart, with the KDJ turning at a high level of 80. If the bearish momentum continues to increase after a volume increase, the price will further decline. Qin Chuan personally believes that the price will not continue to fall, and everyone needs to pay close attention to the market. On the daily chart, the 3700 level is a key point for the bull-bear divide. After the validation of the daily support at 3420, the price retraced to around 3600, indicating absorption of funds. After failing to break through 3700 in the morning, the price fell again, indicating significant selling pressure at 3700. Currently, the overall upward trend is hindered. In the short term, on the four-hour chart, the Bollinger Bands are opening downward, and the price is running in a bearish channel. If Ethereum does not break through 3660 and stabilize, there may be further signs of new lows, with the price testing around 3380. The overall view on the hourly chart is similar to Bitcoin's operation. In summary, it is suggested to focus on long positions for Ethereum.

Pending Orders:

Long at 3380-3350, stop loss at 40

Short at 3700-3720, stop loss at 40

This article is exclusively written by senior analyst Qin Chuan, who has been studying the investment field of Bitcoin, Ethereum, contracts, spot, gold, forex, stocks, etc. for many years. Currently, he mainly guides contract operations, with solid theoretical foundations and practical experience. He is good at combining technical and fundamental analysis, focusing on capital management and risk control. His operating style is steady and decisive, and he is recognized by many investment friends for his responsible and sharp operations. For more real-time investment strategies, trading techniques, operation skills, and candlestick knowledge, follow the public account: Zhao Qin Chuan.

Disclaimer: The above analysis represents the author's personal views and does not constitute specific operational advice. Trading based on this information is at your own risk. Investment carries risks, so be cautious when entering the market.

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