Preface: Investment carries risks, and operations should be conducted with caution.
Article review takes time, and there may be delays in publication. The article is for reference only, and you are welcome to read!
This article was written on: March 14, 15:30 Beijing Time
Market Information
- The U.S. Senate Banking Committee advances the "Financial Integrity and Regulatory Management Act";
- The U.S. Treasury Department holds talks with three cryptocurrency companies to discuss Bitcoin reserve custody solutions;
- JPMorgan states that public Bitcoin miners will continue to receive a share of the BTC network hash rate;
- Trump criticizes The Wall Street Journal: "I don't know what they are doing or saying";
- The Central Bank of Russia proposes to open cryptocurrency trading to specific local investors;
Market Review
Yesterday, we expected a rebound in the market, but the 200-day moving average was not broken, and the market fell back to the 79934 position. The short-term long positions we set up were stopped out, but Ethereum did not show a significant decline. The long position around 1850 for Ethereum is still in profit, with the low point last night at 1821. Ethereum can still be held. Bitcoin retraced to test the 79500 support. With the weekend approaching, the market will likely fluctuate slowly. Bitcoin's focus is on breaking above the 200-day moving average, with a target around 83700;
Market Analysis
BTC:
From the 4-hour chart, the rebound after Bitcoin's drop to around 76560 has not yet reached its target. The short-term rebound needs to reach at least the 86500-89300 range. Last night's small pullback was just minor fluctuations. Although the weekend market moves slowly, it should still show a slight rebound. Entry points are recommended around 80500, with additional purchases at 79000, stop loss at 78500, and targets set at the 86500-89300 range. After reaching this range, we will see if it can effectively stabilize at 87000. If it stabilizes, the market will continue towards 95000. Please manage your entry opportunities; for short-term trading, control risks and manage your own profits and losses;
ETH:
From the 4-hour chart, the rebound after this wave of decline has also not yet reached its target, remaining in a bottoming oscillation. Ethereum's rise has not yet gained momentum, and the rebound range needs to reach 2100-2200, which is also the take-profit point for the long positions we set up yesterday. Continue to hold the long position around 1850 from yesterday. The weekend moves relatively slowly, so maintain patience. For short-term trading, control risks and manage your own profits and losses;
In summary:
Bitcoin and Ethereum's short-term rebounds have not yet reached their targets, and the weekend will see continued rebounds;
The article is time-sensitive, be aware of risks, and the above is only personal advice for reference!
Follow the WeChat public account "Crypto Lao Zhao" to discuss the market together;
If you don't like it, you must have your own standards for what you like. All negativity is the opposite of positive perception. The matter itself is not important; what matters is what changes you can achieve through it and what impact it can have! Some people prefer one-sided trends, some prefer oscillations, some excel in upward movements, while others are obsessed with downward trends. No one is absolutely right, and no one is absolutely wrong. If you don't like it, it doesn't meet your standards; what you can't do may be what others excel at.
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