Preface: Investment involves risks, please proceed with caution.
Article review takes time, there may be delays in publication. The article is for reference only, welcome to read!
This article was written on March 12th, 14:06 Beijing time
Market Information
- OpenAI's first official counterattack: Musk's lawsuit is "perplexing" and may be an attempt to steal technology;
- Coinbase report: Despite Bitcoin reaching new all-time highs, it may face short-term resistance;
- Bernstein: Bitcoin is expected to reach $150,000 this year;
- Grayscale: GBTC Bitcoin holdings drop below 400,000 BTC;
- JPMorgan Chase CEO: Individuals will never buy Bitcoin;
- Coinbase lawsuit: US SEC refuses to establish clear cryptocurrency rules;
Today is March 12th, and those in the industry know what happened on March 12th, 2020. It's a day worth commemorating. In the world of digital currency, a day feels like a lifetime. Today is March 12th, four years later. Such a decline should not happen again, but we need to maintain a sense of awe towards the market.
Market Review
Yesterday, we predicted that the intraday market would continue to rise, and long positions could be directly established. The market also rose as expected, even higher than anticipated. Bitcoin reached a high of 72,890, while our established position was near 68,600. Once again, long positions were profitable. Ethereum rose to 4,098, with our established position near 3,855, also reaching the predicted target range of 4,050-4,100. Don't be afraid to chase after a high market. Currently, the bulls are strong, and as long as you seize the opportunity, there will be good profits. Congratulations to friends who followed the short-term long positions and profited again.
Market Analysis
BTC:
Looking at the 4-hour chart, after Bitcoin rebounded to around 72,890, it did not continue to rise. It consecutively formed doji candles at this level, indicating that there is some short-term pressure above. There is a high chance of a small pullback in the intraday market. Although it won't experience a drop like on March 12th, there will still be a slight decline. The expected decline range for Bitcoin during the day is between 69,250 and 68,250. After reaching this range, observe whether the previous low point of 67,000 can be broken. If it does, there will be a deeper decline; otherwise, the market will continue to rise. Exercise caution when entering the market for short-term trading and manage risks on your own.
ETH:
Looking at the 4-hour chart, Ethereum's trend is similar to Bitcoin's. After the rise, it did not continue, and there is also some resistance above. There will also be a pullback opportunity during the day. The key support level is the low point of the previous candle at 3,719. If it doesn't fall below this level, the market will experience a small pullback followed by a rebound. The expected decline range during the day is between 3,865 and 3,800. If the previous high of 4,098 is broken, there is no need to continue holding short positions. You can seize the opportunity for a small pullback and manage your own entry into the market for short-term trading.
In summary:
Both Bitcoin and Ethereum are encountering resistance in the short term, and there will be a pullback opportunity during the day.
The article is time-sensitive, be aware of the risks, and the above is only personal advice, for reference only!
Follow the public account "加密老赵" to explore the market together.
Opportunities are only meaningful when seized.
When the probability is on my side, I will act decisively, rather than being indecisive, fearing the loss of a small profit.
A good opportunity is one that you understand at a glance how to seize, rather than staring at the computer for an afternoon, still unsure whether to go long or short.
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