Tracking real-time hot topics in the currency circle, seizing the best trading opportunities. Today is Saturday, March 23, 2024, and I am Yibo! We do not predict trades. In fact, we observe market fluctuations (narrowing, diffusion), structure (market batch structure), emotions (external market US stocks, US dollars, etc.). As a trader, you (through trading) affect prices, and prices also affect your emotions and behavior as a factor.

Bitcoin once again experienced a significant decline due to the unexpected announcement of a 25 basis point interest rate cut by the Swiss National Bank, becoming the first G10 developed economy to cut interest rates after long-term high inflation. The unexpected interest rate cut by the Swiss National Bank fueled global risk market sentiment, and the strength of the US dollar reappeared against the backdrop of strong US economic growth. The US dollar continues to strengthen: the three major US stock indexes fluctuated, and the cryptocurrency market experienced huge fluctuations again. BlackRock and Fidelity's spot Bitcoin ETFs have seen continuous inflows for 49 days, with IBIT and FBTC ranking fourth among all ETFs in active continuous inflows.

On Friday, with the continued strength of the US dollar, Asian currencies fell across the board. The South Korean won led the decline, with the South Korean won to US dollar exchange rate falling by 1.3% at one point, marking the largest decline since early February. The Thai baht to US dollar exchange rate fell by 1.2%, reaching its lowest level in five months. The offshore renminbi fell below 7.25 against the US dollar, dropping by about 300 points intraday, and is currently trading at 7.2510.

Bitcoin's overall trend yesterday was inclined to be volatile, reaching a high of 66630 before falling back, forming a short-term unilateral downward trend after being pressured from above. It broke through the support of the previous day's low point and briefly tested near the 62000 level in the early morning. Currently, the price is running around 64000, and the four-hour chart shows consecutive declines, testing the support of the MA200 moving average line again. Although there is a rebound, it is once again suppressed by the MA7 above and falls back. The MACD has a bearish crossover and is currently showing a downward trend, indicating a continued demand for downward movement. If it falls below the MA200, there is a risk of testing the previous low. From a daily perspective, pay attention to the support at 60,000 and be cautious of a sharp decline. If there is a rapid decline, consider replenishing positions in batches. If it stabilizes above 60,000, it is expected to continue to challenge new highs. Continue to hold a long position, with resistance above at 64500-65200 and support below at 62000-62500!

Ethereum's trend was once again affected by the overall market and experienced a decline. Yesterday, it reached a high of 3560 before being resisted, and fell to around 3250 at the low. The rebound was not strong, and the price has been running around 3330. The four-hour chart shows another decline, with clear resistance above. The MACD has turned bearish, with a bearish crossover and downward extension, and breaking through the short-term support at 3400 is unfavorable for the bulls. Once the price breaks through this level in the form of a large bearish candle on the hourly chart, the next target will be 3200. If it falls below 3200, there is a possibility of testing the previous low. As long as the 3000 level is held, there should be no major issues. In the short term, the downtrend has not stopped, so refrain from entering long positions hastily. From a daily perspective, the MA7 is extending downward and forming resistance, and the MACD is running bearish with a bearish crossover and downward extension, indicating a weak trend and further downside risk. The possibility of a large drop in the market is not high, so it is still recommended to focus on long positions in the long term. For short-term trading, do not expect significant gains, with resistance above at 3360-3420 and support below at 3250-3180.

In this market, it ultimately comes down to ability. If your ability is insufficient, what the market gives you will eventually be taken back. Therefore, when your wealth exceeds your ability, you need to control the drawdown, even though this control is futile, because that kind of profitable arrogance and conceit 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 how to read the market, not knowing when to enter, not knowing when to stop loss, not knowing when to take profit, haphazardly adding positions, getting trapped at the bottom, unable to hold onto profits, and unable to seize opportunities when the market comes. These are common problems among retail investors, but it's okay. Come to me, and I will guide you in making the right trading decisions. A thousand words are not as good as one profitable trade. Instead of repeated failures, it's better to come to Yibo! Frequent operations are not as good as precise ones. Make every trade valuable. All you need to do is find Yibo, and what we need to do is prove that our words are not empty. 24-hour real-time guidance for trading. Market volatility is fast. Due to the impact of review timeliness, real-time layout for subsequent market trends 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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