There is still room for the rapid decline of BTC, ETH pays attention to 2370
Someone asked me why I haven’t written an analysis in the past few days. Do you think it’s useful to write an analysis in this kind of market? Since you don’t play the cards according to the technical side, then make the direction, and the analysis is unnecessary. I can’t just write a few sentences without research. Thinking, the first two trading days basically go long. No matter who asks me, it is the same direction. The target of 2500 I told you yesterday was successfully reached, and it extended to around 2545, and then the market encountered resistance and began to decline. , just at around 2 o’clock it fell sharply, Bitcoin returned to around 61000, and Ethereum tested the support of the 2370 first-line position for the first time. Although the current market has rebounded, Mr. Tang predicts that there is still a chance to test their respective support levels downward. .
On the news, Chicago-based Rothschild Investment Corporation recently purchased 265,302 shares of the Grayscale Ethereum Trust, its first investment in the Ethereum Trust. The company disclosed Thursday that its stake in the Ethereum Trust was worth $4.75 million as of March 31. Regulatory filings show that Rothschild was one of the first high-profile institutional asset managers to seek exposure to ETH through Grayscale’s trust product. In addition, according to Bybt data, the open interest of Ethereum futures reached 8 billion US dollars, a record high. These news undoubtedly increased the upward momentum of Ethereum
Separately, Bloomberg reported that Brevan Howard Asset Management, the $5.6 billion asset manager currently led by Aron Landy, is preparing to start investing in digital assets, becoming the latest firm seeking to capitalize on the cryptocurrency boom. Fund management companies, no matter how we look at it, we have reason to believe that in the next time, Bitcoin and Ethereum will have another chance to rise
Every pullback is rising and accumulating strength. This is what I told you before. For spot friends, every pullback is an opportunity to buy. Withdrawal led to a sharp drop in the market. The drop within the day is not big. According to the normal market trend, the current drop has successfully reached the first line of the lower track of the 4-hour Bollinger Bands. The trend of the forest belt has not changed significantly, and the market is expected to continue to pull back in the short term. The focus below is on the support of the lower 60,900 first-line position. If the market can successfully break through this position, then the market will have a chance to test the 60,000 mark. Attached The short kinetic energy of the indicator in the picture also shows a tendency to continue to increase in volume. Looking at the hourly line, the currency price is expected to continue to extend downward after successfully falling below the 120-day moving average. When operating the short order, you can see around 61,000 first, and you can hold it to 60,000 after breaking the position. Focus on the following Under the support of the first-line position of 60900, it depends on its testing strength and whether it can effectively break through. After the breakthrough, the market will hit the 60000 mark. If you don’t know how to operate, you can follow the official account Tang Sizhe to get it. In the previous analysis, I also analyzed the recent trend for you. You can find the right point to go long, and it was true in the previous two trading days. I have analyzed that there are two cases of divergence. One is that if the new high is not broken, the market will fall back, and the kinetic energy will continue to increase after breaking the new high. Big, the bulls are expected to continue to make efforts, coupled with the limitation of the timeliness of the article, there is no way to notify in time, so the timeliness of the market trend is also limited, and the specific market needs to be treated in detail.
Recently, Ethereum has been relatively strong. After a new high, there was a callback, and then continued to rebound and continue to hit a new high. From the previous 2000, it has successfully reached above 2500. The previous wave of correction is also relatively strong, and it is relatively rare to drop more than 100 points. , the bottom just touched the support of the 4-hour Bollinger Middle Rail around 2370, and the market has begun to rebound. It is currently hovering above 2400. For the next trend, I think we should pay attention to the support at the position of 2370. Continue to follow the trend of the previous two trading days. If the position is broken, there will be a real callback. The market is very likely to test the 2200 mark. This will also lead to a situation of relatively large declines in the day. Friends who chased more at the top before will definitely suffer heavy losses. Here I will also mention to everyone that you can hold the spot Yes, after all, the current cost of holding Bitcoin spot is too high, and Ethereum can still be owned. You must learn to bring a stop loss at any time when making a contract, or you will only be waiting for you to explode or suffer heavy losses. Traders also have a headache for this kind of market, let alone you.
Finally, let me tell you about this market. The current market is indeed very hot, but there are also relatively large risks. As far as the trend during this period is concerned, it will be very difficult to operate purely according to the technical aspects, and the market does not follow the routine at all. Cards, big ups and downs are normal, and may happen in a very short period of time. We can't play cards according to common sense for this kind of trend. That is to make the direction, keep the position small, and expand the stop loss slightly. Only under this kind of trend can we make profits. If you don’t understand anything, you can search for Tang Sizhe and consult me. If you happen to lack a communication partner on the investment road, I may be able to help you.
