Market overview:
Following the previous report, the yield of the 10-year U.S. treasury bond rose again, causing market funds to flow to low-risk markets. On the day of the report, the U.S. stock market opened as scheduled and fell further, effectively falling below the 13,000 line, causing a joint blow to the digital currency market . Since the last report, the U.S. bond yield has stepped back to 1.538%, and now it continues to hit the 1.6% line. Since the 10-year U.S. bond yield is usually regarded as a risk-free rate, and the risk-free rate is an important variable that affects corporate valuations, Generally speaking, the rise of 10-year U.S. bond yields and risk-free interest rates will lead to a decline in corporate valuations, and the Nasdaq, which is dominated by high-valued growth stocks, will fall sharply. Now the Nasdaq has rebounded to the key level of 13,000. The weekly closing price is 12920.15, and we need to beware of another drop at the opening tonight. In addition, the position of the Bitcoin CME gap this week is 49405-50580, half of the range has been covered so far, and it is expected to be fully covered within the day.
BTC/USDT review analysis
Following the previous report, Bitcoin formed a false breakthrough in the resonance range of the 51200 line and formed a pressure range (the purple area in the figure), and mentioned that the fresh demand zone below 45800-46500 constitutes a certain downward resistance. As shown in the figure, since the last report, Bitcoin fell below the ascending channel structure, and then stepped back on the above-mentioned demand zone and rebounded effectively without in-depth consumption. Enter the above-mentioned pressure zone for second exploration and confirmation. Follow up to observe whether the short-term trend line can be effectively supported. If it falls below, continue to pay attention to the demand zone 45800-46500 and the effective support line of 43000. Otherwise, continue to look up to the target level of 54000.
ETH/USDT review analysis
As mentioned in the previous report, pay attention to the breakthrough of the exchange rate shock range of Ethereum and Bitcoin, as well as the short-term demand zone support and supply zone pressure similar to Bitcoin. As shown in the figure, since the previous report, after Ethereum fell below the rising wedge structure, it touched the smaller blue rectangle demand zone 1420-1455 in the chart and rebounded effectively. At the same time, the ETH/BTC exchange rate also made great efforts to break through the short-term shock range , the current quotation is 0.034, an increase of nearly 8% compared with the exchange rate in the previous reporting period, and the current touch chart above the larger blue rectangular supply zone 1733-1780 is effectively stagflation, forming a certain short-term pressure. Follow-up will focus on Bitcoin to the above-mentioned support situation and the key pressure situation of the Nasdaq to 13,000 at the opening of the US stock market in the evening.
DOT/USDT review analysis
According to SUBSCAN data, the current number of Polkadot pledges has reached 691.44M, with a pledge rate of 65.7%; the largest release peak in the next week will be March 13, and the number of releases will reach 6.7022M, accounting for 2.29% of the current number of floating chips. As shown in the figure, the current trend of Polkadot forms a convergent triangle, and the weekly K-line forms a double harami structure. There are two key defensive positions in each of the long and short positions. A positive pyramid test size increase strategy can be adopted.
This article is for reference only and does not constitute any investment advice
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