Zhao Qinchuan: Focus on whether the bullish and bearish trends of Bitcoin have changed over the weekend.

CN
1 year ago

Market laws, twists and turns, reincarnation, internal cultivation, external practice, the road ahead is long. Doubt can filter risks, but it can also lead to missed opportunities. To seize opportunities, one must be brave to try. Different attitudes towards life yield different results. Without great ambitions, even with help from influential people, one will ultimately achieve little. Countless difficulties are not insurmountable. The success story of an investor is actually a history of learning and growth. Through hardships, one must not forget their original intentions to achieve consistency.

2024.3.30 BTC————————

The daily K-line of Bitcoin is in a high-level consolidation phase, with the daily support moving up to around 69,800. The MACD indicator shows a gradual contraction of selling volume, indicating that Bitcoin is still maintaining an upward channel on the daily chart. In the short term, the price on the four-hour chart is in a Bollinger oscillation market, with the selling volume of MACD increasing after breaking through the 70,000 mark, and the resistance at the high of 71,800 remains effective. It is suggested to pay attention to the long position layout around the 68,700 support level and for more aggressive traders, they can directly enter the market at the current price of 69,600 and take profit after breaking through 70,000. On the hourly chart, the price broke through the short-term resistance but did not stabilize, and the MACD indicator shows a change in buying and selling volume. The short-term upward pressure is around 70,900. In summary, it is suggested to continue to buy Bitcoin steadily during the weekend.

Pending orders:

Long at 68,800-69,100, with a 500-point stop loss, and a target of 800-1500 points

** (The strategy can only be used once, and the profit-taking can be arranged at your discretion)**

2024.3.30 ETH————————

Ethereum is surprisingly weak, with a clear bearish sentiment on the daily chart. The resistance at the high of 3,630-3,650 is very obvious, and the short-term resistance has formed at 3,530, with no clear and effective support below. It is suggested to pay attention to the position of 3,450 on the daily chart as a watershed for bullish momentum. On the four-hour chart, a new intraday resistance is formed at 3,540, and the support is suggested to be around 3,430. The overall price is running in a downward Bollinger channel, with the selling volume of MACD continuing to increase. On the hourly chart, the price is currently facing resistance at 3,520, and after the KDJ indicator turns at a high level, there may be some downward space for the price. Of course, this mainly depends on whether Bitcoin will continue to consolidate or move downward. In summary, it is suggested to focus on buying Ethereum during the weekend.

Pending orders:

Long at 3,450-3,430, with a 30-point stop loss, and a target of 50-80 points

Short at 3,630-3,650, with a 25-point stop loss, and a target of 40-60 points

** (The strategy can only be used once, and the profit-taking can be arranged at your discretion)**

This article is exclusively written by senior analyst Qin Chuan, who has been studying the investment field of Bitcoin, Ethereum, contracts, spot, gold, forex, stocks, etc. for many years. Currently, he mainly guides contract operations, with solid theoretical foundation and practical experience. He is good at combining technical and fundamental analysis, focusing on capital management and risk control, and has a steady and decisive operating style. He is widely recognized by investment friends for his amiable and responsible personality and decisive operations. For more real-time investment strategies, trading techniques, operational skills, and knowledge of candlestick charts, please follow the public account: Zhao Qin Chuan.

Disclaimer: The above analysis represents the author's personal views and does not constitute specific operational advice. Any operation based on this is at your own risk. Investment is risky, and market entry should be cautious.

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