Crypto News
March 8th Hot Topics:
- JPMorgan: Bitcoin "Has Surpassed" Gold
- EOS to Shut Down Inflation Mechanism, Creating 818 Million New EOS Tokens
- Arkham: Tesla Holds 11,500 BTC, Not 9,720 BTC
- BlackRock Applies to SEC to Add Spot Bitcoin ETF Exposure to Its Global Allocation Fund
- JPMorgan: Spot Bitcoin ETF Could Attract Around $62 Billion in Inflows in the Next 2-3 Years
Trading Insights
About Entry Entering the market is a trial-and-error process. No entry can guarantee 100% of what will happen next. Entry is not the entirety of trading; it is just the beginning. Seeking the perfect entry is the biggest trap in trading. Only by overcoming this can one truly begin to think about what trading is. Only then can one truly engage in the subsequent stages.
About Stop Loss Stop loss must be decisive and resolute; this is the entry-level course of trading. Risky trading requires controlling the risk. Being able to actively cut losses gives control of the account's fate into one's own hands, providing the opportunity to continue in uncertain markets.
About Take Profit When taking profit, one must try to release the profit side as much as possible. If unable to let go of the profit side and cannot withstand the retracement, one can only make small profits, never catch a trend, and may not even recoup the cost of trial and error. In trading, one must actively control losses, and whether one can profit depends on the uncertain trend. Therefore, in trading, one must actively cut losses and let profits run. Only in this way can one have the opportunity to accumulate advantages and achieve positive returns.
About Trend Market trends are uncertain, so the duration and amplitude of oscillation and trend cannot be predicted. However, holding onto losses and taking profits at the first sign of improvement is difficult to achieve risk control, while the trend mindset of cutting losses and letting profits run is feasible. Therefore, in trading, a trend-oriented approach is a viable hope for achieving profits.
Search for the public account: Big White Coin
BTC
Analysis
Bitcoin tested the vicinity of 65,600 multiple times yesterday without breaking through, then rebounded and reached a peak near 67,950 before falling back. Congratulations to friends who followed yesterday's train of thought. Currently, the price is running near 66,950. The four-hour chart shows an overall high-level oscillation, with limited room for activity. The MA7 and 14-day moving averages are converging and entwining, and the MACD is running with no volume, with the two lines sticking together. The short-term trend is repeatedly fluctuating, with no continuation of the long or short side. If it falls below around 66,300, it will test the support at 65,600. The daily chart rebounded after retracing to the MA7, and the bullish trend has not been broken. The intraday opening line is upward with an upper shadow, and it is expected to retrace to confirm support during the day. Overall, it is still in a high-level oscillation, and in the long term, it is still expected to break through to new highs. The approach remains the same as yesterday: treat it with both long and short positions, with resistance at 67,600-68,400 and support at 66,300-65,600.
ETH
Analysis
Ethereum retraced to the support around 3,735 yesterday and then rebounded, and the price continued to rise, breaking through the previous high to around 3,940 before falling back. Congratulations to friends who followed yesterday's train of thought and profited from long positions by 200 points. Currently, the price is running near 3,905. Although the four-hour chart has broken through to a new high, the volume has not followed, forming a double top, and it is expected to have a retracement. The support around 3,865 is being watched below, and if it breaks, the retracement will continue. The recent market is characterized by a step-by-step rise, with a retracement after a breakthrough but not by much. Do not try to guess the top; the probability of occurrences like in 2019 and 2021 is small. Currently, Ethereum's trend is stronger than Bitcoin's, and after the speculative news, the market will definitely see a breakout. For low-level chips, it is recommended to hold for the long term, with a focus on buying low. Resistance is at 3,970-4,030, and support is at 3,865-3,800.
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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