Preface: Investment carries risks, and operations should be cautious.
Article review takes time, and there may be delays in publication. The article is for reference only, welcome to read!
Article writing time: March 17, 11:08 AM Beijing time
Market Information
- Barclays: The risk leans towards the Federal Reserve delaying interest rate cuts this year;
- Market sentiment has slightly warmed, today's cryptocurrency fear and greed index is 32;
- Bank of Korea: Has never considered including Bitcoin in foreign exchange reserves;
- There are 3 days left until the Federal Reserve's interest rate decision, with only a 2% probability of a rate cut in March;
- The asset management scale of gold ETFs has surpassed that of Bitcoin ETFs, recording the highest monthly inflow since March 2022;
Market Review
The weekend market fluctuated, with the lowest point for Bitcoin at 81980, not providing an entry opportunity at 80500. The low for Ethereum was 1857, and the previous long position at 1850 did not stop out. Currently, it is still in a small profit state. After the weekend's fluctuations, this week will complete the rebound that could not be achieved last week. The market needs to approach around 90000, and traders should pay attention to seizing entry opportunities;
Market Analysis
BTC:
From the weekly chart, last week's decline for Bitcoin touched the 50% position of the rebound from 48888 to 110000 and formed a lower shadow line. The candlestick also closed bullish, indicating that it did not break this position, showing that the 50% support is still quite strong. This week, attention should be paid to the 50% position. If it breaks below 79700, watch for a breakthrough above 87000. The trading strategy is to focus on going long, as there are short-term bottoming signals, and the opportunity for a rise in the future is greater. Recommended entry points are around 82700 for positioning, 81500 for adding positions, with a stop loss at 80500, and targets set at the 86700-89300 range. After reaching this range, pay attention to the stability above it and seize entry opportunities accordingly; for short-term trading, control risks and manage profits and losses independently;
ETH:
From the daily chart, Ethereum's movement has basically shown little volatility, with slight short-term fluctuations. The previous long position at 1850 from Thursday currently has only 60 points of profit. As Bitcoin rebounds, Ethereum will also rise. The long position strategy remains the same, with initial targets set at 2100-2200. After stabilizing, new positions can be arranged based on the trend. Seize entry opportunities accordingly; for short-term trading, control risks and manage profits and losses independently;
In summary:
Bitcoin will begin to rebound this week, so pay attention to seizing entry opportunities;
The article is time-sensitive, be aware of risks, the above is only personal advice, for reference only!
Follow the WeChat public account Crypto Lao Zhao to discuss the market together;
If you don't like it, you must have your own standards for what you like. All negativity is the opposite of positive perception. The matter itself is not important; what matters is what changes you can achieve through it and what impact it can have! Some prefer one-sided trends, some prefer fluctuations, some excel in rising markets, while others are obsessed with declines. No one is absolutely right, and no one is absolutely wrong. If you don't like it, it doesn't meet your standards; what you can't do may be what others excel at.
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