Cryptocurrency News

March 29th Hot Topics:

1. BlackRock's IBIT Bitcoin holdings reach 250,670 coins, with a market value exceeding 17.2 billion US dollars.
2. Spot Bitcoin ETF saw a net inflow of approximately 38.12 million US dollars on March 28th.
3. Analyst: Options worth 15 billion US dollars will be settled on March 29th.
4. Bitwise submits a spot Ethereum ETF application to the US SEC.
5. Brazilian exchange operator B3 will offer Bitcoin futures in April.
6. IBIT spot Bitcoin ETF saw a trading volume of 1.8 billion US dollars on March 28th.

Trading Insights

In fact, no matter what investment is made, the risk is very high, and the same goes for digital currencies. There are many things that need to be paid attention to.

1. Basic knowledge must be learned, understand digital currencies, understand the trading rules of digital currencies, and how to trade.
2. Master market information. There are many aspects of market information that need to be paid attention to in the digital currency investment market. Understand market information and slowly learn to interpret the news. Independently analyze and judge the impact of the news on digital currency prices.
3. Analyze the technical aspects. Learning to read the market is very important in trading. Exiting at the upper resistance level and entering at the lower support level can help in choosing the best buying opportunity.
4. Trading mentality. Trading mentality is very important in investment. Having a good trading mentality can be as stable as Mount Tai. Not being arrogant or impetuous, personal emotions are also difficult to control.
5. Reasonably allocate funds. Set an investment plan for yourself, choose between long-term investment or short-term operations. Short-term operations require more time, while long-term investments look at long-term benefits.

Search for the public account: Big White Coin

BTC

Analysis

Bitcoin rose steadily in the early hours of yesterday, reaching a high of 71,500 but failed to break through. It was then resisted and fell to near the support level of 70,400. Currently, the price is running around 70,680. The four-hour chart failed to break through and fell continuously, but the decline was not significant. The MACD showed no volume operation with the two lines sticking together. In the short term, the trend is in a high-level oscillation. Although there is support from the MA7 moving average, it is not very useful. There is still a demand for a downward trend. Looking at the daily chart, it has already stabilized above 69,000, and the trend looks quite good. It is expected to hit a new high in the next few days, with a large upside potential. Those with low position chips should patiently hold and wait for the results. For those without positions, it is mainly long and a little short. The upper resistance is at 71,500-73,500, and the lower support is at 70,000-69,000.

ETH

Analysis

Ethereum has been slightly weaker recently compared to Bitcoin. It was resisted and fell to the support level of 3,540, rebounded, but the momentum was not strong, and the market fell again. Currently, the price is running around 3,550. Looking at the four-hour chart, the high points are gradually decreasing, and the MACD is in a bearish operation but without volume, and the two lines are not converging. In the short term, the trend is in a triangular range and will maintain an oscillating trend before breaking through. The short-term support is at the 3,540 level, and if it does not break, it will test the upper resistance again. The daily chart once again retraced to the trend line support and closed with a positive candle, but the rebound was not strong, and the upper resistance is obvious. It is expected to test the support again, and it is currently in a triangular convergence, so risk control should be done well. The long-term strategy is still mainly long, with upper resistance at 3,620-3,680 and lower support at 3,500-3,460.

Disclaimer: The above content is purely personal opinion and is for reference only. It 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 is anything you don't understand, feel free to consult.

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