Crypto News
April 24th Hot Topics:
1. Yujin: Justin Sun has accumulated over $1 billion worth of ETH since December 26, 2023.
2. Grayscale submits application to register Ethereum Mini Trust ETF.
3. US SEC seeks public comments on the amended proposal for the spot Ethereum ETF by BlackRock. Grayscale's GBTC outflowed $67 million yesterday.
4. K33 Research: Mt. Gox may release $9 billion worth of Bitcoin in the near future, which could put pressure on the coin's price.
5. Grayscale's GBTC outflowed $67 million yesterday.
Trading Insights
Seize opportunities before getting involved.
You should be aware that "unforeseen events may occur at any time, and people may encounter good or bad fortune overnight." The market's ups and downs are filled with too many uncertainties. If you always operate in a market with no profit, losses become inevitable, and gains become occasional. Once you have mastered the trading skills, making money becomes inevitable, and losing money becomes occasional.
Short-term traders should enter and exit quickly, and it is advisable to remain on the sidelines most of the time. Only get involved when you see an opportunity, which is called "wait for the right moment to strike." Do not blindly enter a certain cryptocurrency, nor buy into it in advance. Only get involved just before a market trend appears to avoid entering too early and waiting in vain, which would waste time and affect the efficiency of your capital utilization. Neither catch the bottom nor flee the peak, only profit from the middle, known as "only eat the middle part of the fish." Do not aim for the head or the tail.
Catching the head requires a long wait, which is too slow. Eating the tail carries a greater risk; a slight carelessness may lead to being trapped. Avoid greed to avoid being trapped. Do not be greedy; it is best to take profit when things are going well. By not getting involved in advance, you can avoid waiting in vain.
Search for the public account: "Big White's Crypto Forum"
BTC
Analysis
Bitcoin retraced to the support level around 65800 during yesterday's daytime trading, then rebounded to above 67000 in the evening. Congratulations to friends who followed this strategy and profited over 1000 points from long positions. Currently, the price is running near 66680, and the four-hour chart shows a high-level oscillation. The upper side is suppressed by the MA200 moving average, and the bulls are gradually reducing their volume, with the two lines sticking together. In the short term, the trend is slow and the space is not large, overall in an upward trend. Short-term sideways oscillation is the main trend, and the daily chart is testing the MA60 suppression. If it can break through and stabilize, the next focus will be around 68300. Currently, the trend indicates that the probability of a major decline is small. It is easy to get off but difficult to get back on. Cherish every pullback, continue to hold low-level chips, and wait for the market to rise. The upper resistance is at 67000-67700, and the lower support is at 65800-64500.
ETH
Analysis
Ethereum showed a retracement trend similar to Bitcoin during yesterday's daytime trading, dropping to the support level around 3152, then accelerating to break through the previous high to 3263 in the evening. Congratulations to friends who followed this strategy and profited 100 points from long positions. Currently, the price is running near 3215, and the four-hour chart shows a slight retracement after the upward push, with the price returning above 3200. The current trend is relatively stable, showing a step-by-step upward trend without significant retracement. It is evident that the bulls have the upper hand, with recent large investors and funds buying into Ethereum, indicating that there may be positive news to be released. Firmly maintain a bullish belief, hold onto the chips in hand, and buy on dips. The outcome will definitely not be bad. The upper resistance is at 3260-3320, and the lower support is at 3200-3150.
Disclaimer: The above content is purely personal opinion and is for reference only. It does not constitute specific trading advice and does not 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 consult.
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