Cryptocurrency News
April 9th Hot Topics:
1. Grayscale's GBTC holds over 322,000 BTC as of yesterday.
2. Tether's net profit reached $6.2 billion in 2023.
3. The US SEC delays the resolution of Bitwise and Grayscale's Bitcoin spot ETF options trading applications.
4. The probability of the US Federal Reserve maintaining interest rates in May is 100%.
5. Defiance Investments applies to issue 2x leveraged Ethereum futures ETF.
6. Viewpoint: The growth of stablecoin supply is more important for a bull market than the inflow of ETF funds.
Trading Insights
There are no undefeated generals in the investment market. It is normal to incur losses, and it is difficult to consistently make profits. Understanding compound growth is more stable than getting rich overnight.
Winning and losing are really just secondary. You can move your stop-loss for winning trades, and cut your losses for losing trades. With good risk control, you will always have the opportunity to make big profits. However, without risk awareness, no matter how invincible you are, there will always be the hidden danger of losing big money. Operate cautiously, enter trades at specific points, strictly set stop-loss and take-profit levels for all entry orders, and ensure that winning trades are not turned into losing trades.
Entry points rely on technical analysis, while mindset, position management, and luck come into play after entry. The appearance, maintenance, and expansion of profits rely on moving stop-loss and take-profit levels.
Search for the public account: "Big White on Coins"
BTC
Analysis
Bitcoin's trend yesterday morning was slow and relatively stable, with the bottom gradually rising. Subsequently, the bulls accelerated the upward trend, reaching a peak near 72,760 before falling back. Congratulations to friends who followed this strategy and profited from long positions by 3,000 points. Currently, the price is running near 71,600. On the four-hour chart, the upward trend is blocked, with consecutive bearish candlesticks and a shrinking bullish MACD. A quick rebound occurred below the MA7 moving average, indicating strong bullish momentum. The MA7 is pointing upwards, and if the price can close above it after oscillation, it will once again challenge the previous high. Looking at the daily chart, the trend confirms the dominance of the bulls, and there is still a demand for upward movement. It is expected that this surge above the previous high will reach around 77,500. Hold on to low-level chips, maintain the same strategy of being bullish at lower levels, with resistance above at 72,500-73,300 and support below at 71,000-70,000.
ETH
Analysis
Ethereum's trend yesterday was similar to Bitcoin's, but its overall performance was stronger. After a straight upward trend, the bulls continued to step up, reaching a peak of 3,726 before being resisted. Congratulations to friends who followed this strategy and profited from long positions by 300 points. Currently, the price is running near 3,688. On the four-hour chart, the short-term bullish trend is expected to pull back and repair the MA7 moving average, with limited space for a short-term decline. The bullish MACD is running with a golden cross of the two lines pointing upwards. The trend still leans towards a bullish market. On the daily chart, the candlesticks continue to break through the MA30 resistance, far exceeding Bitcoin's surge, which is a good signal. If Bitcoin breaks through to a new high, Ethereum is likely to outperform Bitcoin and experience a supplementary surge. Continue to hold and wait, maintain a bullish strategy at lower levels, with resistance above at 3,730-3,780 and support below at 3,650-3,600.
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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