Preface: Investment involves risks, please proceed with caution.
Article review takes time, and there may be delays in publication. The article is for reference only, and your readership is welcome!
Time of writing: 13:26, March 25th, Beijing time
Market Information
- This week's important event schedule: The adjustment of the cryptocurrency market may be coming to an end, and the data of the spot Bitcoin ETF will continue to dominate market sentiment.
- The Bitcoin holdings of BlackRock's IBIT may surpass Grayscale GBTC within 3 weeks.
- Founder of Tianqiao Capital: Investors should firmly hold Bitcoin.
- Bloomberg: Goldman Sachs' hedge fund clients are becoming more active in cryptocurrency options.
- US presidential candidate Kennedy: Cryptocurrency is the best tool to resist inflation.
Market Review
Last week, we mentioned that Bitcoin and Ethereum still had room for a rebound, but the weekend market did not rebound directly, instead it first declined, continuously tested the low point, and then rebounded. The rebound did not reach the range of 69,000-71,100 for Bitcoin, and Ethereum also did not reach above 3,700. It belongs to a oscillating trend. The weekly closing price this week showed a long lower shadow, indicating that the market bulls still have a certain strength. Pay attention to whether it can break through after reaching near 71,100 this week. If it does, it will rise again, breaking the rhythm of this round of Bitcoin's pullback.
Market Analysis
BTC:
Looking at the 4-hour chart, Bitcoin's decline to the 60,800 level reached the support level and rebounded. Last weekend, the 4-hour chart showed 3 doji candles near 62,300. From the perspective of the market, the short positions were blocked after testing the support, and the market then rebounded. If the intraday high of 68,293 is broken, the market will move towards the 71,000 level, which is also the pressure level for Bitcoin's rebound that we mentioned last week. When it reaches near 71,000, if a long upper shadow appears, you can open a short position. If not, it may refresh the high point again. The key level to watch in the near term is the 71,000 resistance. The chance of a rebound in the intraday market is greater, with 69,000 as the first target, followed by near 71,100. Trade in the short term, control the risk, and manage your profits and losses.
ETH:
Looking at the 4-hour chart, Ethereum's previous decline was relatively weaker, breaking the previous low point and rebounding to 3,055. The rebound was also relatively weak. The weekend's decline in Ethereum also showed a long lower shadow at the bottom, and the strength of this short-term pullback was not very strong, indicating that the market's short positions are not as strong. The subsequent rebound is also relatively weak. Whether it's a decline or a rebound, Ethereum's trend is relatively weak. However, if Bitcoin rebounds and breaks through, Ethereum will also follow the rebound. Intraday, pay attention to the breakthrough of the short-term high of 3,590 for Ethereum. After the breakthrough, it will reach the 3,700 level. Trade in the short term, control the risk, and manage your profits and losses.
In summary:
Both Bitcoin and Ethereum have rebound opportunities in the intraday market. Pay attention to the breakthrough of the short-term pressure level.
The article is time-sensitive, be aware of the risks, and the above is only personal advice, for reference only!
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