Cryptocurrency News
April 10th Hot Topics:
1. Yesterday, the net inflow of funds into BlackRock's IBIT was $129 million, while Grayscale's GBTC saw a net outflow of $155 million.
2. US Senators: Cryptocurrencies will become an important issue in Senate elections.
3. Boston Fed's Rosengren reiterates the expectation of a rate cut once this year.
4. BTC spot ETF saw a net outflow of $19 million yesterday.
5. JPMorgan and Huaxia obtained virtual asset management qualifications in Hong Kong, and the BTC spot ETF is expected to be listed by the end of April at the earliest.
Trading Insights
Facing and evaluating oneself correctly
The market operates according to its own rules, unaffected by human will. The market is always right, even when it's wrong. Always respect the market. Trusting one's judgment should be based on a deep understanding of the fundamentals and the internal and external market environment, as well as on conforming to the rules of market operation.
Many people, when starting to engage in short-term trading, often lack technical expertise, leading to frequent high and low buying and selling, causing them to become very anxious and seeking profits in the short term. However, this often results in missing good buying and selling points. The main players often take advantage of investors' desire for quick profits by creating various long or short traps in the market or technical charts, causing many investors to be unable to resist chasing after rising and falling prices. After experiencing several such setbacks, investors may develop a lack of confidence in the market, leading to a lack of trust. Continuously chasing after high-volume market trends often leads to eventual losses. In summary, many traders repeatedly incur losses, and one of the reasons is their anxious trading mentality, entering the market hastily without waiting for a more confident opportunity.
Search for the public account: "Big White Coin Forum"
BTC
Analysis
Bitcoin reached a high of 72760 yesterday but was resisted, then the market trend declined all the way, breaking through the 70,000 mark to a low of 68230, finding support around the 68850 level. On the four-hour chart, the market trend surged and fell, forming a V-shaped reversal, engulfing the previous gains. The MA7 turned downward, and the MACD turned from bullish to bearish, gradually increasing in volume, with both lines crossing downwards. The trend is leaning towards bearish. In the short term, support is temporarily at 68000, and if not broken, it will enter a period of oscillation and adjustment before rising again. Looking at the daily chart, breaking through to a new high will not be easy, and there will be multiple rounds of shaking out chips before a straight rise, so holders of low-level chips should continue to hold. As the saying goes, it's easy to get off the bus but hard to get back on. The strategy is to buy on small dips and buy more on big dips, and to keep a good position for adding to holdings. Resistance above is at 69500-71000, and support below is at 68000-67200.
ETH
Analysis
Ethereum's trend is linked to the overall market, showing a continuous decline, dropping to a low of 3453 and rebounding to the support level around 3490. On the four-hour chart, the candlesticks have had eight consecutive declines, falling to the MA60 moving average support line, and despite multiple attempts, it has not effectively broken through. In the short term, the market trend has stopped falling. Although the trend is bearish, I personally believe that a significant decline is unlikely, unless there is an impact from news. On the daily chart, the candlesticks closed lower, giving back some of the gains, but it has not changed the upward trend. Below, attention should be given to the 3100-3200 range, where opportunities to buy on dips may arise, although the chances may be slim. Continue to hold onto the coins and wait for Ethereum's own market trend to emerge. Resistance above is at 3540-3620, and support below is at 3450-3360.
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 ask for advice.
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