Cryptocurrency News

March 20th Hot Topics:

1. K33 Research: The risk of further downward volatility continues to increase due to long liquidation.
2. Bitcoin spot ETF saw a net outflow of $326 million yesterday.
3. Tether issued an additional 1 billion USDT on the Tron network (authorized but not yet issued).
4. The US SEC has postponed the decision on Hashdex and Ark 21Shares Ethereum ETF.
5. Bitcoin spot ETF recently saw significant net outflows, and blockchain concept stocks all fell.

Trading Insights

What constitutes a correct trading view? Trading is not deterministic; it is a discipline of probability. How can one win in this game of probability?

First, increase one's awareness of trading, as everyone has biases. These biases often stem from insufficient understanding and lack of clarity about the present situation, leading to emotional judgments. Your level of awareness often determines your cognitive level. Continuously improving cognitive levels is crucial because you will never earn money beyond your cognition. Even if you make money by luck, you will eventually give it back based on your abilities.

Second, with increased awareness, one can establish their own logical thinking. They can observe, analyze, judge, and reason comprehensively about the market. Before planning a trade, one should make a trading plan, assess the risk level of the order, determine if the entry aligns with the system's basis, set reasonable stop-loss, and be prepared to execute the trading plan regardless of the trading period. Can one stick to the trading plan, not be greedy in short periods, hold orders in longer periods, and endure the mental anguish when profits retract? Can one strictly execute their trading plan?

Third, summarizing, improving self-awareness, establishing logical thinking, making suitable trading plans, and strictly executing them. Friendly reminder: Regardless of when and where, risk control of the principal is always paramount.

Fourth, some friends believe that trading logic and psychology have no relation to trading. I won't comment, but I'll say this: whether a knife can harm someone does not depend on the knife but on the person wielding it.

Search for the public account: Big White Coin Forum

BTC

Analysis

Bitcoin opened yesterday morning at a high of 68100 and began to fall. Although there were rebounds during the decline, they were not sustained. Long positions gained nearly 2000 points in profit. Currently, the price is running near 61100. From the four-hour perspective, this retracement is significant, but short-term support from the MA200 moving average has initiated a rebound. If the four-hour closing line does not break the low point, it is safe. Although the trend is bearish, remember not to enter blindly. After all, 60,000 is a crucial support level, and there is not much room below. One might accidentally end up shorting at the bottom. Looking at the daily chart, a pullback after a two-month uptrend is a normal phenomenon and does not mean the bull market is over. Pay attention to the vicinity of 60,000 and the 58,000-59,000 area for phased buying. Patience is required for a better rise after the washout. Resistance above is at 63500-64500, and support below is at 60000-58800.

ETH

Analysis

Ethereum followed the overall market's decline, with limited rebound strength, dropping to as low as 3058. Short-term, the decline has temporarily stopped, and the price is currently running near 3100. From the four-hour perspective, the trend shows a bearish momentum, with the MACD gradually increasing in volume and the two lines crossing downwards, indicating stronger bearishness. There is still a demand for further decline. Aggressive traders can consider shorting on rebounds lightly, reducing positions if it falls below 3,000 and watching for 2950. On the daily chart, a V-shaped reversal has emerged, with the candlestick falling nine consecutive times to the rising center. Pay attention to the MA60 support situation. If it falls further, consider buying in phases. Resistance above is at 3160-3240, and support below is at 3000-2950.

Disclaimer: The above content is 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 are any areas of confusion, feel free to consult.

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