Bitcoin and Ethereum have surged, and the market has entered a state of extreme greed. How should we position ourselves for the future?

CN
8 months ago

Tracking real-time hotspots in the currency circle, seizing the best trading opportunities. Today is Tuesday, March 26, 2024, and I am Yibo! We do not predict trades, but actually observe market fluctuations (narrowing, diffusion), structure (market batch structure), emotions (external market stocks, US dollars, etc.). As a trader, you (through trading) affect prices, and prices also affect your emotions and behavior.

Entering the countdown of March, with 5 days left, and the Bitcoin halving countdown at 28 days, Bitcoin and Ethereum have unexpectedly rebounded strongly for many people. Perhaps many people will wake up today to find their positions gone. After two weeks of correction, Bitcoin and Ethereum finally saw a substantial rise last night, and market signals indicate that the correction has ended. Today, the cryptocurrency panic and greed index has reached 81, and the market has entered an extremely greedy sentiment. Over the past two weeks, the market has experienced the shadow of a major correction. Fortunately, this correction held the important level of sixty thousand (three thousand). Especially for those who were waiting for Bitcoin to fall to $42,000 to bottom out, they were disappointed once again. In fact, the live analysis repeatedly emphasized that the significant volatility before the Bitcoin halving is when whales and institutions dump and absorb funds. However, if you listen to the "experts" predicting that Bitcoin will fall to $42,000 and you cut your losses, you may wonder how many people in the crypto market always inquire about how the "experts" make their predictions and always believe in the so-called moving averages, candlestick charts, and cycles. Faith in the currency circle is self-given, not needing other assistance to recharge faith!

Bitcoin's second rebound yesterday became stronger, with the intraday price falling to near 66,780 without breaking through, then rebounding to a high of 71,228. The leading US market's continuous positive trend has driven many altcoins to counterattack strongly, and the US dollar's weakness has provided a contrast. Our predicted price point near 70,500 was basically achieved yesterday, and the price briefly fell below 70,000, then after correction, it climbed back to near 70,000 and continued to fluctuate in this range. This indicates that the correction phase has ended, and the bullish momentum has regained dominance in the market. With the halving cycle approaching, Bitcoin is expected to rise again. The overall market trend is in line with expectations, as we mentioned yesterday, the bulls will exert force after the bottoming out. Therefore, the next operation should focus on the bullish side. Operational suggestion: Enter long positions in the 69,200-68,500 range during the correction, with a target of 71,500-72,000!

After Ethereum's lowest retracement to the 3,420 level yesterday, and the second retracement did not break the previous low, it rebounded with consecutive positive trends, reaching a high of 3,660 but was resisted. Ethereum's rise is entirely driven by Bitcoin, and the rebound is noticeably weaker, but it does not affect the established short-term upward trend. At the daily level, it also broke through the key resistance level of 3,550, which will at least establish a bullish advantage in the short term, indicating a strong overall trend. While the market trend is clear, do not forget to develop the habit of setting stop-loss and take-profit points to prevent major players from shaking out. The future upward space is still significant, so continue to hold for the long term, with the main focus on long positions and secondary focus on short positions. Resistance levels above are 3,680-3,720-3,820, and support levels below are 3,520-3,480!

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 retracement, even though 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 how to read the market, not knowing when to enter the market, not knowing when to set stop-loss and take-profit points, randomly adding positions, getting trapped in bottom fishing, unable to hold onto profits during market volatility, these are all common problems for retail investors. But it's okay, 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 our words are 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 based on actual trading 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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