Listening to the music outside the window, I often think about the pre-market situation. Looking at the lines on every time track, searching for the basis to adhere to, and constantly refreshing to keep an eye on the data affecting the price, every day is the same, yet every day is also different. The same is the serious attitude towards the market, and the difference lies in the continuous progress. I like this feeling and love this kind of life.
Hello everyone, I am trader Gege. Following the previous update on March 22nd, I detailed my personal views and expectations. However, it seems that the market has not moved out of the low point of 60,800 at that time, but has rebounded to above 70,000 after continuous probing around the 62,300 level. The previous expectation was a retest of the previous low or a false breakthrough of the previous low followed by a rebound, but it did not happen.
Today, April 1st, marks the end of the month and also the beginning of our halving month. Market fluctuations are bound to be even greater. First, it was BCH, then BSV, and finally our big cake. BCH has recently had a very eye-catching trend, but attention should also be paid to the market saturation of positive news. The big cake is the leader, and these two little brothers are the followers of the previous halving cycle, haha.
Speaking of the market, today marks the end of the month and also the end of the week. From these two perspectives, the market is still in a strong structure. If the 60,800 level is the bottom before the halving, then the upward trend will continue, and new highs will be reached. In such a market, cautious handling is necessary, as the frenzied market of sharp rises and falls will be even more intense. For those who want to wait for lower chips or wait for the top to make a big trend short, perhaps they have to wait until after the halving to see if the saturation of positive news can bring about such a market.
Regarding short-term trading, we need to look for trends from the daily chart, and then look for entry positions from smaller timeframes such as the hourly chart or even the 15-minute chart. Why? It's because it's not possible to see short-term market changes from the weekly chart, as the cycle is long. If the market rises for the first four days of the week and falls for the last three days, it doesn't help much for short-term trading. I have also mentioned before that you may know where you need to be tomorrow, but you cannot predict where you will be in a year, because there are many unknowns, and trading is the same.
On the daily chart of the big cake, after nearly a week of high-level fluctuations, the middle track and the 30-day average have formed short-term support, and the 4-hour chart has formed a box structure, with the upper edge at the 71,500 level and the lower edge at the 68,500 level. In the short term, it is important to focus on the box structure. There is a high probability of breaking the box at the beginning of the week, and caution should also be exercised when reaching new highs. Technical indicators are only auxiliary, and the key is to control your position reasonably. While trading, one must also know how to adjust oneself in order to maintain the best state to face the market.
Today, based on the box structure and the reference to the daily chart's middle track, I suggest buying back the big cake at the 68,500-68,000 level. Plan your position reasonably and manage your risks well. Be cautious about participating in extreme market conditions, and focus more on real-time operations. As for the long-term market of the big cake, I have expectations for a rebound. I don't believe it will continue to weaken. Just wait for the speculative funds to return to the big cake ecosystem. That's all for today. See you next time. For more real-time suggestions on the big cake and other cryptocurrencies, find Gege. The suggestion is for reference only. Enter the market with good risk control. Determine profit and stop-loss levels on your own. Consult real-time strategies for specific situations.
Perhaps you have rejected the temptation of oscillation countless times, just to wait for that uncertain breakthrough. Even if the long period of consolidation is brewing, the wait in the short term will definitely be one-sided. Time has become the biggest cost, and patience is all the preparation. The financial market is forgetful, there is no forever one-sided, entrepreneurship is always easier than maintenance, trading is always more practical than waiting, the market is not an opportunity that comes by waiting, but luck that is always prepared after trading!
Many individual investors are unable to enter the trading door, often simply because they lack a guide. The problem you have been pondering may be easily solved with a single pointer from an experienced person. Daily real-time market analysis of currencies such as BTC, ETH, BCH, LTC, EOS, XRP, DOT, etc., is promptly disclosed in the circle of friends, and there is also guidance in the experience exchange group. There is 18-hour online market analysis and operation guidance every day. Feel free to scan and add for real-time guidance. Note! The contact information below does not belong to me!
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