Preface: Investment involves risks, please proceed with caution.
Article review takes time, there may be delays in publication, and the article is for reference only. Thank you for reading!
Time of writing: 10:37, March 21, Beijing time
Market Information
- The net outflow of Bitcoin spot ETF was $263 million yesterday;
- The countdown to Bitcoin halving is only 30 days away;
- Coinbase becomes a key infrastructure provider for BlackRock's tokenized investment fund;
- Federal Reserve Chairman: The Federal Reserve did not secretly promote CBDC;
- The Federal Reserve maintains interest rates unchanged, and the three major U.S. stock indexes all hit new historical closing highs;
Market Review
On Monday, I already explained the direction to everyone, it's just a matter of placing the order directly. If you still can't seize the opportunity, then I can't help it; On Monday, I reminded everyone that there would be a retracement this week, and the trend this week did indeed decline as expected. The lowest point of Bitcoin's decline was 60,800, lower than my predicted low of 62,300. The short position was around 69,500, and even if you exited at 62,300, there was still a profit of over 7,000. Ethereum's lowest point was 3,055, and the initial target for the decline was 3,400. If it breaks, the situation will be reevaluated, but let's go with 3,400. Short at 3,725 also had a profit margin of around 325. Whether it's Bitcoin or Ethereum, this decline was a perfect opportunity to profit. Congratulations to those who followed the rhythm and made a small profit. After the decline, Bitcoin reached support, and then rebounded during the day, directly rebounding by 7,000 points. The current market is quite active, and the market trend is fast. Everyone should remember to control the risk in trading;
Market Analysis
BTC:
Looking at the 4-hour chart, after Bitcoin reached the support near 62,300, although it broke through a bit, it rebounded shortly after, testing the support of the 200-day moving average. It rose from 60,800 to 68,293 last night, with an increase of over 7,000. The decline in the first half of the week was reversed in one night. In terms of the intraday trend, Bitcoin tested the support near 62,300 during the decline, and the low point of 59,112 was not broken. The market started to rebound, and the pressure range of this rebound will be between 69,000 and 71,100. There is still some room from the current price to this range. There were no long positions during the day, so you can wait for a pullback before establishing long positions. Recommended positions are 67,300-65,800, with a target of 69,000-71,100. After reaching around 71,100, observe whether it can continue to rise. If a long upper shadow is formed at 71,100, it will be a good opportunity to establish short positions. In intraday trading, control the risk and manage profits and losses;
ETH:
Looking at the 4-hour chart, Ethereum's overall trend is relatively weak. It fell below the previous low of 3,205 and also broke through the support of the 200-day moving average, indicating a strong bearish trend. However, with Bitcoin's rise, Ethereum also rebounded, showing a passive rise. The pressure range for this rebound is expected to be between 3,700 and 3,880. Ethereum probably won't rise that high, around 3,700 should be enough. There is still some room during the day, so you can wait for a pullback and then capture a rebound. Recommended positions are 3,450-3,300 for establishing long positions, with a target of around 3,700. When it reaches around 3,880, observe the situation of forming a long upper shadow and consider establishing short positions. Manage your entry opportunities and control the risk in intraday trading;
In summary:
After the decline, Bitcoin and Ethereum rebounded. After the short-term rebound, pay attention to the situation near the pressure and consider establishing short positions;
The article is time-sensitive, pay attention to the risks, the above is only personal advice, for reference only!
Follow the public account "加密老赵" to explore the market together;
Opportunities are only meaningful when seized.
When the probability is on my side, I will act decisively, rather than being indecisive and afraid of losing.
A good opportunity is the kind that you understand how to seize at a glance, rather than staring at the computer for an afternoon, still unsure whether to go long or short.
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