Cryptocurrency News
May 1st Hot Topics:
Bitcoin records its worst monthly performance since the FTX crash, with the prospect of interest rates being a drag.
SEC may approve the first Ethereum 2x leveraged futures ETF.
The chairman of the US Financial Services Committee criticizes the SEC's investigation into Ethereum, accusing the chairman of deliberately misleading Congress.
4. CZ is ultimately sentenced to 4 months in prison.
- CZ's lawyers repeatedly mentioned certain undisclosed confidential matters in their defense.
Trading Insights:
Regardless of whether you experience significant losses or gains, it is important to maintain emotional stability. Analyze each trade daily to see if there are any violations. Reflect on why successful trades worked and self-examine to identify the root causes of unsuccessful trades. To consistently perform well, it is crucial to pay close attention to every trade.
Most people are familiar with trading principles, but true experts are those who remain steadfast in executing these principles even in extreme market conditions.
Experts achieve high profit rates because they typically fear the market. Their fear of trading in the market forces them to carefully select entry points. Most people do not wait for the market to become clear before entering, they often enter the market in the dark. In contrast, experts wait until the market becomes clear before entering. They do not attempt to predict market movements before the market reveals its direction. They wait for the market to indicate the direction of the movement and only initiate trades when there is a foolproof opportunity, otherwise they abstain.
Search for the public account: "Big White Coin Forum"
BTC
Analysis:
Bitcoin surged to around 64720 in the early morning yesterday but was resisted, then the market fell all the way to break through the new low to around 59150 support. Currently, the price is running around 60150. After five consecutive bearish four-hour candlesticks, it closed with a bullish candlestick, but the rebound strength is not strong. The MACD is running bearish with a dead cross of the two lines heading downwards, and the MA7 moving average is pointing downwards. The market trend is weak and bearish, but the volume is not as expected, so there may not be much room for a significant move. In the short term, pay attention to the strength of the rebound. If it does not hold above 60500, there is still a possibility of a second dip. After the daily market fell below the new low, it quickly rebounded. Pay attention to whether it can hold at 60,000. If it cannot, focus on the 56000 area. Currently, the oscillation cycle has lengthened, and the direction has not changed. The bull market still exists. Maintain a strategy of buying on dips. Resistance above is at 61000-62500, and support below is at 59500-59000.
ETH
Analysis:
Ethereum's trend is consistent with Bitcoin's. Yesterday, it showed an overall oscillating downward trend, falling to around 2920 support and rebounding from the lowest point. Currently, the price is running around 3004. The four-hour market trend fell back without breaking the previous low and rebounded. The MACD is running bearish with a dead cross of the two lines heading downwards, indicating a bearish trend. The rebound strength is a bit weak, and it is being suppressed by the MA7 moving average. Only a breakthrough would indicate a possibility of further upward movement; otherwise, it may fall again. On the daily level, pay attention to whether it can hold the MA120 moving average. If it effectively falls below, it is expected to move downward. Looking at the market, the downward movement on the first day of May may not necessarily be a bad thing. Personally, I believe that after breaking the oscillation, the market will rebound again, showing a downward movement followed by an upward movement. Therefore, the strategy remains unchanged, focusing on buying on dips. Resistance above is at 3050-3100, and support below is at 2950-2900.
Disclaimer: The above content is purely personal opinion and is for reference only. It does not constitute specific operational advice and does not bear legal responsibility. Market conditions change rapidly, and the article has a certain lag. If there is anything you do not understand, feel free to consult.
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