March 19th Market Analysis

CN
1 year ago

【Important News in the Coin Circle Within 24 Hours】

  1. Coinbase will list Akash Network (AKT);
  2. DEX Hercules has been launched on the Ethereum L2 network Metis;
  3. CZ: About to launch an educational project with no new tokens;
  4. The total value of user assets held by Binance custody has exceeded $100 billion for the first time;
  5. South Korea seeks to establish a 500 billion won scale metaverse asset fund;
  6. An address lost $1.48 million in meme coins in nearly 11 hours of chasing highs and killing lows;
  7. Grayscale reduced its holdings of 3726 BTC on March 18, while Fidelity increased its holdings by 2230 BTC;
  8. DBDX, under the Deutsche Börse, will establish an institutional digital asset ecosystem;
  9. Fidelity submitted an amendment to the SEC to add staking in a potential Ethereum ETF;
  10. Fidelity's FBTC became the second spot Bitcoin ETF to enter the top five of all ETFs;
  11. Standard Chartered Bank: If the spot Ethereum ETF is approved, it may bring in $45 billion in funds within 12 months.

【BTC Market Analysis】

The market did not break through the 70,000 mark yesterday, and is still running in a downward oscillation, with weak rebound. Today's trend is downward, so pay attention to whether it's a true or false breakthrough.

Looking at the four-hour chart, the upper resistance is at 69,000, but the price has not been able to break through. It then fell to around 64,500, which is also a significant bottom support. The price is now testing this support again, with the next support level near 63,000.

【Today's Focus】

Support levels for BTC: 64,300-63,600, with a major support at 61,300.

Resistance levels for BTC: 67,000-67,600, with a major resistance at 69,000.

The market is showing a weak oscillation trend, so strict stop-loss measures should be taken for contracts.

Also, a reminder that there will be an interest rate decision tomorrow, and there is a high probability that the market will accelerate.

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