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: April 1, 11:27 AM Beijing time
Market Information
- Bloomberg: As the cryptocurrency market remains sluggish, Coinbase's stock price faces its worst quarter since the FTX collapse;
- A U.S. senator proposes a bill allowing retirement funds to be invested in cryptocurrencies;
- The incoming chair of the CFTC meets with senators to discuss regulation of the cryptocurrency spot trading market;
- The chair of the House Financial Services Committee: Trump's cryptocurrency trading complicates regulation;
- BlackRock CEO Larry Fink states that the dollar could potentially lose its status as the reserve currency to Bitcoin;
Market Review
Yesterday, we anticipated another wave of decline for Bitcoin, with a low point at 81222. After that, there were no further opportunities for a downturn, and we did not get a chance to enter long positions. For Ethereum, the short position around 1850 is currently close to the cost price, and we will not hold onto the short position today. A bottom signal has appeared in the short term, and if a pullback does not occur, we will look for opportunities to enter directly;
Market Analysis
BTC:
Looking at the 4-hour chart, the lowest point of the pullback from the rebound between 76560 and 88750 is currently at 81222. The support range for this pullback is between 81200 and 79150, which has basically reached the support area. Our long position layout point yesterday was set at the second support, but the market did not provide that opportunity. On the daily chart, a bullish doji star has formed near the support, indicating that there is some support holding in the short term. During the day trading, there is no need to wait for a pullback; long positions can be directly laid out. Recommended entry point is around 82600, with an additional buy at 81600, stop loss at 80600, and target range of 85900-87100. Please manage your entry opportunities; for short-term trading, control risks and manage your own profits and losses;
ETH:
Looking at the 4-hour chart, Ethereum's recent short-term low was very close to breaking. The current price is fluctuating near the short-term support. Although Bitcoin is starting to rebound, Ethereum's performance is relatively weak but will also follow. On the daily chart, a bullish doji star has also formed, and there are signs of a bottom appearing in the short term. In trading, there is no need to wait for a pullback; long positions can be directly laid out. Recommended entry point is around 1830, with a stop loss at 1730 and a target range of 1970-2030. Please manage your entry opportunities; for short-term trading, control risks and manage your own profits and losses;
In summary:
The short-term support for Bitcoin and Ethereum is effective, and trading opportunities can be sought for long positions;
The article is time-sensitive, please pay attention to risks. The above is only personal advice and for reference!
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 people prefer one-sided trends, some prefer fluctuations, some excel in upward movements, while others are obsessed with downward trends. 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 cannot do may be what others excel at.
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