Tracking real-time hotspots in the currency circle, seizing the best trading opportunities. Today is Wednesday, March 20, 2024, and I am Yibo! We are not predicting trades, but actually observing market fluctuations (narrowing, spreading), structure (market batch structure), sentiment (external market such as US stocks, USD, etc.). As a trader, you (through trading) affect the price, and the price also affects your emotions and behavior as a factor.

Bitcoin is currently at a low point, falling to around 61000, and Ethereum has also dropped to around 3100. There is currently a lot of noise in the market, and many believe that the bull market has ended, and it has already broken the high point, indicating the beginning of a bear market. Currently, whether from the macroeconomic environment, the Fed's policy, or micro-news, there is no support for the bear market. I think there is no eternal rainy season, only the long-lost sunny days. If BTC continues to fall, there will be strong support at around 60500, and the most ideal bottom-fishing position is 60000-58500. In a bull market, a 30% pullback is normal. There is no market that only rises without falling, and no trend that only falls without rising. Too much leverage and heavy positions will make it difficult to move. Removing leverage through several pullbacks and entering the market lightly will allow for higher jumps!

Yesterday, the overall trend of Bitcoin was weak and in a downtrend. The price fluctuated downward from the morning opening to around 62400, rebounded to around 65800, but did not show much continuation. Until early morning, the price once again broke through a new low to around 61580, and the current market is running around 62000. Looking at the technical structure, the daily chart shows a large bearish candlestick retracement, indicating a weak overall trend with still significant downside potential. The bearish sentiment is strong, and this rhythm of movement is bound to continue to be bearish. Looking at the four-hour chart, the three consecutive bearish candlesticks retraced before rebounding, then once again made a large bearish move, indicating the strong bearish trend. Although the decline has temporarily stopped, the rebound is relatively small in the short term, indicating a need for time to consolidate. Therefore, it is advisable to follow the trend and look for a rebound during the day session! Trading suggestion: Enter a short position in the 63500-63800 range, with a target of 61500-60800. Continuation could see support at the bottom of 59000.

Ethereum also experienced a sharp decline following Bitcoin yesterday, dropping from around 3550 at the morning opening to around 3150, with two short-term rebounds to around 3260 before falling again. If the rebound momentum cannot effectively break through 3270, local market fluctuations will further strengthen the bearish trend. The subsequent trend may not rule out the possibility of a 'flash' waterfall pattern reaching the weekly support near 2850! Looking at the four-hour trend, the candlesticks continuously pierced the lower Bollinger Band, forming a "descending triangle" pattern. The range of 3200-3350 has not been effectively rebounded and broken through in the subsequent trend. The bearish momentum may continue to increase the downward trend. Trading suggestion: Enter a short position in the 3220-3250 range, with a target of 3120-3080. Continuation could see support at the bottom of 2950!

In this market, it ultimately comes down to ability. If your ability is insufficient, the market will eventually take back what it has given you. Therefore, when your wealth exceeds your ability, you need to control the retreat, although this control is futile because that kind of profitable arrogance and arrogance will ultimately destroy a person's rationality. However, in the capital market, we do not need to worry about the situation where our wealth is lower than our ability, because this kind of imbalance will eventually be corrected by time. If it is not corrected, there is only one reason, which is that your ability is insufficient. If you are still in a state of confusion, not understanding the technology, not knowing when to enter the market, not knowing when to stop loss, not knowing when to take profit, randomly adding positions, getting trapped in bottom-fishing, unable to hold onto profits, and unable to seize the market opportunities, these are all common problems for retail investors. However, it's okay, you can come to me, and I will guide you in the right direction for trading. A thousand words are not as good as one profitable trade. Instead of frequent operations, it's better to be precise, making every trade valuable. What you need to do is find me, and what we need to do is prove that what we say is not empty. 24-hour real-time guidance, the market fluctuates quickly, due to the impact of timeliness during review, for the subsequent market trends, real-time layout is the main focus. Coin friends who need contract guidance can scan the QR code at the bottom of the article to add my public account.

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