Market Overview
Tariff threats overshadow GDP benefits, with the three major U.S. stock indices declining for two consecutive days; General Motors plummeted over 7%, and Ford closed down nearly 4%; the chip index fell for three consecutive days, with both Nvidia and AMD dropping over 2% and over 3% respectively; Apple rebounded over 1%, while Tesla rebounded over 7% during the day before giving back most of its gains. The European automotive sector fell nearly 1%, with Stellantis dropping over 4%.
Chinese concept index continues to rise against the trend, closing up over 1%, with Alibaba and JD.com rising over 2%, while the three new energy vehicle companies "Weilai, Xiaopeng, and Li Auto" all fell at least 2%.
The yield on ten-year British bonds reached a new high in over two months, while the yield on ten-year U.S. bonds hit a new high in over a month, and the yield on two-year U.S. bonds retreated.
The U.S. dollar index fell from a three-week high; the yen hit a new three-week low; the offshore yuan rebounded over a hundred points during the day, recovering to 7.27; Bitcoin fell nearly $2000 during the day, dropping below the $86,000 mark, before slightly turning up.
Gold rose over 1% during the day, reaching a new historical high after a week; crude oil continued to hit new highs for the month; copper prices fell nearly 3% from record highs.
Market Review:
Yesterday, the market was mainly volatile, with a daily range of 2000 points. The range was 87777-85777. The daily candlestick closed as a doji with a slightly longer lower shadow than the upper shadow.
Market Outlook:
Continuing from the previous article, due to the small range, the overall trend remains unchanged, so the following thoughts remain the same!
In the short term or for swing trading, it is advisable not to operate any long positions above 86000. Prices above 88000 are considered high-risk; chasing long positions above 88000 carries the risk of being caught in a trap! Respect the market, do not chase highs or panic sell!
The view is clear: Bitcoin is currently in a downward trend with a small fluctuation, is a bottom visible? Not at all, there is no easily visible bottom! Every bottom occurs when no one dares to buy, amidst widespread pessimism, as seen in early 2023 when BTC was at 16000, no one dared to buy. For the process of finding a bottom, refer to the sharp drop on May 19!
In the short term, the recent days have seen limited volatility, and the bearish outlook remains. Strictly control position size and arrange positions reasonably. As mentioned in the previous swing trading thoughts, do not operate any long positions above 86000, and chasing prices above 88000 risks being caught in a trap!
What price range is safe, and what price range is high-risk, should be clear in your mind!
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Be calm in your mind, and steady in your hands!
The above analysis and predictions are merely the personal probabilistic forecasts and judgments of the navigator regarding the market; speculation carries risks, and caution is advised when entering the market!
2025.3.28 Navigator of the Crypto Circle
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