Tang Sizhe: BTC wants to fall after rising, ETH shocks to be broken
In the early hours of March 18th, Beijing time, the Federal Reserve issued a statement on the March meeting of the US Federal Open Market Committee (FOMC), stating that monetary policy was basically "on hold." In a subsequent interview, Fed Chairman Powell believed that the current loose monetary policy is expected to continue until 2022 if the actual inflation rate is targeted. Under the influence of this round of Fed policy, Bitcoin and others have stepped out of an upward curve like gold, soaring from a price of $57,000 to nearly $60,000 each, which also means that Bitcoin will become a safe-haven asset like gold.
Bitcoin has been priced high over the past few months, with the world's largest crypto asset having been choppy gains despite heightened market volatility. In the past week, Bitcoin reached its highest point around $61,000. Demand from short-term holders remains strong for now, and long-term holders are gradually selling Bitcoin at a slow pace. However, the important thing is that long-term holders still hold a lot of bitcoins, which is good for holders' transactions, and some large-capital holders of bitcoins have no position, which is good for bitcoin , Bitcoin may continue to hit new highs in the later period.
We pointed out in yesterday's analysis that the stepping back of Bitcoin is an opportunity for us to go long. The long orders in the range of 57500-57800 successfully took profit above 59000, and then the market extended to above 60000, and then began to fall back. There is resistance, and the intraday market is expected to continue to rise and fall. Follow the official account Tang Sizhe for analysis. The trend of Ethereum has also met expectations. After testing the support of the 1770-1790 range many times, it successfully pulled up at night. Compared with Bitcoin The fluctuation range of Ethereum is not large. From this range, it went up to above 1830. This is nothing compared to the previous market, which shows that there is still a lot of resistance above Ethereum.
3.19 Bitcoin (BTC) market analysis, Bitcoin rose after a wave yesterday and then fell back, and now it has returned to fluctuations around 58,000. From the analysis of the daily line, although Bitcoin is still in the upward channel, the momentum of bulls is gradually shrinking , the market is expected to fall back. In the near future, focus on the support of the middle rail of the lower Bollinger Band at the 53300 first-line position. If you have the opportunity to step back to this position, you can continue to enter the spot. For friends who make contracts, let’s look at the short-term trend. 4 Looking at the hourly line, after a wave of back stepping, it tested the support of the first line of the middle rail of the Bollinger Band at the 56800 line, but failed to break through effectively, and the closing line was successfully closed above the middle rail. The forest belt remains flat, and the moving averages of the various periods below gather in the middle and lower rails of the Bollinger belt to form effective support. The indicators in the attached picture intend to reverse the golden cross and move upward. Line-level long kinetic energy shrinks and falls back. In operation, long orders around 57,500 can continue to be held. At the top, we should first look at 59,000. After breaking the position, we can continue to hold. Yesterday’s trend is expected to repeat itself.
3.19 Ethereum (ETH) market analysis, the trend of Ethereum is not very volatile compared with the big pie, it started to pull up after stepping back to 1770-1790 yesterday, the market effectively touched the multi-order target line of 1830, and then went After falling back, the market continued to extend downward after falling below 1790, and the lowest dropped to around 1733. With the rebound of Bitcoin, Ethereum also began to rebound. It is currently hovering around 1800. From the analysis of the daily line, after a long period of After the high-level consolidation, the bullish momentum began to gradually decrease, and the market will fall back in the near future. Attention everyone, pay attention to the official account Tang Sizhe for more analysis. At present, what we need to focus on is the support of the 1660 position, which is also a long-short transition point. Before the market breaks this position, any retracement is an opportunity for us to enter the market. Short-term analysis, 4-hour online view, the Bollinger Bands are running in a narrow range, and the current fluctuation range is getting smaller.
