Crypto News
May 4th Hot Topics:
1. Data: The authorized supply of USDT issued on Ton has increased to $130 million.
2. Net inflow of $378 million into the Bitcoin ETF in the United States yesterday.
3. Musk: If the United States does not take measures to solve its national debt problem, the dollar will be worthless.
4. The total financing scale of crypto startups in the first quarter of 2024 reached $2.49 billion.
5. Institutional investors' interest in Bitcoin ETF is increasing.
Trading Insights
First of all, let's talk about why there are people trapped in the market every day, but only a few can solve it by themselves? Because when your position is trapped, your mentality is already different. Panic, fear, and luck mentality, unstable mentality can all lead to distorted operations, making it difficult for you to judge the market. How can your position be solved in this situation? Mentality is the most important. If your mentality is problematic, even if the position is solved, what can you do? For friends who are often trapped in investments, remember the following 5 taboos: 1. Not setting stop-loss; 2. Heavy position operation; 3. Countertrend operation; 4. Frequent trading; 5. Bad mentality. There is no universal method, it all depends on the market.
Secondly, the two most important points in investment: first, understand the trend of market trends; second, understand risk control. As an investor, you must have a good mentality and the correct investment concept. Positive people see an opportunity in every adversity, while negative people see some adversity in every opportunity. Faced with the volatile market, we must seize every opportunity, and seizing the opportunity is equivalent to seizing tomorrow!
Search for the public account: "Big White Coin"
BTC
Analysis
Bitcoin dropped to near the support level of 58870 yesterday, and the bulls pushed up in the evening, reaching a high near 63560 but was resisted. Congratulations to friends who followed the long position for gaining over 4000 points. Currently, the price is running near 62850, with the four-hour candlestick showing a bearish trend. Short-term bulls are obstructed, and there is still a demand for a pullback in the trend. Pay attention to the support area of 62000-61500 below. The daily chart shows a stop in the decline and three consecutive bullish candles, with the bulls regaining lost ground. A rise of over 5000 points overnight is a normal phenomenon for a short-term pullback. Overall, the market is in a bottom oscillation, and 60,000 is considered stable. The general direction is still a bullish trend. Continue to hold and wait. Resistance above is at 63800-64500, and support below is at 62000-61500.
ETH
Analysis
Ethereum failed to break below 2955 after two pullbacks yesterday, and then the market saw a strong upward movement, reaching a high near 3130 but was resisted. Congratulations to friends who followed the long position for gaining over 100 points. Currently, the price is running near 3115, with the four-hour chart showing a V-shaped rebound. The multiple attempts to break through near 3130 have not been successful, and there is a need for a pullback in the short term, with the expected space not being too large. The trend shows a bullish advantage, with the daily chart being resisted by the MA14 moving average and the MACD showing a bullish crossover, indicating a high probability of a breakthrough. The overall direction has not changed much, and buying on dips is the main strategy. Resistance above is at 3180-3230, and support below is at 3050-3000.
Disclaimer: The above content is personal opinion and is for reference only! It does not constitute specific operational advice, nor does it bear legal responsibility. The market situation changes rapidly, and the article has a certain lag. If there is anything you don't understand, feel free to consult.
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