People always say "life is like a drama, and drama is like life", but Teacher Jin just wants to say that life is like trading, and trading is like life. Throughout one's life, there will be various choices to make, ultimately making judgments and decisions just like in trading. The volatility of trading is like the trajectory of life, with peaks and valleys. Whether it's the ups and downs of life or the gains and losses in trading, don't focus excessively on them. Grasping the present life is the most real. It's the weekend, so put down the work at hand and take the opportunity in this sunny and warm March to spend more time with family, feel the sunshine, and enjoy the warmth of the wind. You will find that besides trading, life also has some small moments of happiness.
The weekend market is relatively calm, allowing retail investors to take a break from their torment. The upcoming Bitcoin halving is another catalyst stimulating market dynamics, expected to occur in mid-April, which will reduce the number of bitcoins generated per block, thereby slowing down the creation of new bitcoins. This halving is particularly important because in terms of supply growth rate, it will make Bitcoin a scarcer asset than gold. Market analysts predict that this, combined with the continued demand for ETF purchases, will lead to supply shortages, potentially driving up the price of Bitcoin in the next six to twelve months.
During this week's guidance process, there were stop-losses and take-profits, but overall, there were quite a few take-profits, as evident in Weibo (Jin Yuhui) and live trading. Throughout this week, many friends who had losses or trapped positions approached the author, who not only patiently answered their questions but also professionally helped them out of their predicaments. Friends who trusted and followed the author's rhythm have already recovered their losses or even turned a profit, which makes Teacher Jin happy. Confronting the cryptocurrency market and the battle against institutions and capital is not an easy task. In terms of market share, being able to grab a share of the "cake" already outperforms 90% of retail investors. This week, the author summarized a few points through the experiences of friends. Firstly, risk control, especially position control. As mentioned last week, avoid heavy positions, and staggered positions are suitable for volatile markets. Secondly, mindset and greed. To be honest, the author also had the idea of greed, thinking of making a little more for the clients, but the result was losing money on trades that should have been profitable. Adjust the mindset in a timely manner, avoid confronting the market, and don't be excessively greedy for profits; securing profits is the key to peace of mind. Thirdly, mindset. Don't be confused by the market's fluctuations, and don't speculate excessively. The market that belongs to you will eventually reward you.
Bitcoin Market Analysis: The daily chart shows a switch between bullish and bearish trends, with the adjustment trend still continuing. The price is still running within the upward channel, but as the price falls back, the upward momentum weakens. BOLL is slightly open, and the price is adjusting along the MA5 moving average. In the short term, the high near $72,000 this week is still a strong resistance, which is a key point in the second bull market. Below, attention needs to be paid to the support around the BOLL midline at around $68,300. Once broken, the price will continue to fall. Looking at the four-hour chart, the trend tends to be bearish, especially after breaking the $70,000 mark. BOLL is in a flat state, and currently, the price is adjusting above and below the midline. In the short term, attention needs to be paid to the situation around the $70,000 mark.
In summary, Bitcoin is still in a bullish trend overall, but the short-term back and forth adjustments are expected to continue in the short term. For such a market, we can choose a low long and high short strategy. In the small range, focus on the $69,000-71,000 area, and in the large range, focus on the $68,500-72,000 area. If you are uncertain about technical market trends and news interpretation or if you hold trapped positions, you can discuss with Teacher Jin. Subscribe to the public account: Financial Retail Alliance.
Short-term upper pressure levels: 70,500/71,000 Short-term lower support levels: 69,500/69,000
Real-time Bitcoin trading strategies:
Buy in the range of $69,100-69,300 on the pullback, control the stop loss by yourself, and target the range of $70,500-70,700.
Short sell near the rebound in the range of $70,600-70,800, control the stop loss by yourself, and target the range of $69,800-70,000.
Real-time Ethereum trading strategies:
Buy in the range of $3,450-3,460 on the pullback, control the stop loss by yourself, and target the range of $3,580-3,600.
Short sell near the rebound in the range of $3,525-3,540, control the stop loss by yourself, and target the range of $3,480-3,500.
Each article is based on the author's personal experience. After encountering various friends in the cryptocurrency market for so many years, their stories bring different experiences to you who have not yet met me. Adhering to the trading philosophy of "simplicity, following the trend, avoiding greed and distractions, and executing steadily" is the only way to wealth. Focusing on spot contracts such as Bitcoin and Ethereum for many years, using the lessons learned from the "blood" of many retail investors in the market to guide your progress. Follow Yuhui and you won't get lost, Yuhui will help you create wealth!
This article is from the author Jin Yuhui. Please indicate the source when reposting, respect personal opinions, and do not plagiarize. The market situation changes frequently, and the article has timeliness and lag. This article does not provide any express or implied guarantees of the accuracy, reliability, or completeness of the content contained. Please strictly use it for reference, strictly control your positions, and please take full responsibility. Finally, I wish everyone a happy investment and a happy day!
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