Gray 312BTC continued to decline, ETH rebounded within the day and continued to fall
It’s time to analyze the market again. Yesterday, Ethereum asked everyone to go long. The analysis shows that the market will rebound if it does not break through 2415. In the end, the market will rise strongly as the author predicted. The market once rose to around 2643. Then the market showed a Waterloo-like decline. There is no need to participate in this wave of market. Everyone is resting. Bitcoin has also met the author’s expectations. I also gave a clearer analysis of Bitcoin yesterday. It is only suitable for shorting and operation. In terms of thinking, the rebound is mainly short-selling. Yesterday’s trend also met expectations. After a wave of Bitcoin rebound, the market began to fall continuously, but this wave of dips exceeded the author’s expectations. The market directly broke through 50,000 and continued to decline within the day. Next The trend should rebound slightly and continue to fall, and then see if it can break the low point. The following will give you a technical analysis.
On the surface of the news, due to the continued weakness in the encryption market, the price of Bitcoin has returned to the recent low of $52,000 today. This is happening because Bitcoin is losing its market dominance over altcoins at a time when the traditional “alt season” has really begun. According to CoinMarketCap data, as of today, Bitcoin's share of the entire cryptocurrency market capitalization is only 50.1%, the first time in 3 years. Historically, Altcoins Explode Rapidly Whenever Bitcoin Shares Dip to 50%
In addition, according to Bloomberg, citing people familiar with the matter, U.S. President Biden will propose to nearly double the capital gains tax rate for the rich to 39.6%, which, combined with the existing surtax on investment income, means that the federal tax rate for investors will Possibly as high as 43.4%, U.S. investors who invest in crypto assets, which have rallied about 80% since December, are already at risk of capital gains taxes if they sell cryptocurrencies after holding them for more than a year. The IRS has also stepped up taxation on the sale of crypto assets. This will undoubtedly put pressure on Bitcoin, coupled with the cooperation of the technical side, the market began to decline.
Although Bitcoin has rebounded for a long time, the strength is not strong, and the decline after each new high is relatively large. Although there was a rebound yesterday, the strength is not very strong. Mainly from a technical point of view, Bitcoin has always been out of weakness , so every analysis is very tangled, because from the analysis point of view, in the past, Bitcoin and Ethereum were very synchronized, but Ethereum has recently risen relatively rapidly, and Bitcoin has risen relatively slowly, but every time it falls, it is very Powerful, once there is a back step, the strength is relatively strong. Then yesterday's analysis, the idea of selling Bitcoin is to short, and the rebound is an opportunity to enter the market, and the subsequent fall also verified the author's point of view. The decline directly fell below the 50,000 mark. On the one hand, it was the cooperation of the technical side, and on the other hand, it was also stimulated by the news. Looking back at the daily trend, the market will reverse every time after a wave of rapid decline. Ethereum, the author still has a skeptical attitude towards Bitcoin. It is still the same sentence. It is inevitable that the market will rebound after a wave of dips, but the weakness still cannot be changed. There is still a strong short trend on the daily line. Our recent important The focus is on the support of the 120-day moving average at 47,000. In the short term, is the 4-hour line and the hourly line still a short trend? If you don’t stand firm at the 50,000 mark again, the market will continue to move downwards, and wait for the market to reach 47,000 before rebounding. Due to the timeliness of the article, those who don’t know how to operate can follow the official account Tang Sizhe to get it. The market will be affected by the news, and there will be large fluctuations. Everyone must take profit and stop loss in operation, so that your profit and loss will be grasped A certain degree, so as to avoid the situation of liquidation in this kind of market that rises and falls sharply.
The trend of Ethereum is very simple. In my analysis yesterday, I asked everyone to pay attention to the 2415 line. If it does not break through, the market will rebound. The market is also very strong. In the end, it continued to rise, and the highest went up to the 2641 line, and the increase exceeded 200 points. , As for the subsequent retracement, we have already taken profits. When we got up in the morning and saw this wave of trends, the author thought of the time of 312. There was a wave of retracement on March 12, and there was also a wave of retracement on March 12. , What else can we say about this kind of trend, let him pass the past trend, let’s talk about the trend in the next day, the closing line of the daily line will be an important turning point, yesterday’s wave of stepping back, directly fell below If the daily line Bollinger Bands middle track line, if the intraday market successfully closes above the Bollinger Bands middle track, which is the 2220 line, then the next trend will also rebound, but in the short term, the market still shows a relatively strong short trend. Therefore, in terms of operation today, the author recommends rebounding and shorting, and we need to pay attention to the support of the 2100 position below. If the market breaks this position, it will impact around 2070. At present, the market is impacting towards the 2220 line. Once it stabilizes at this position, there will be rebound strength , If you want to go long, you will go short, and then go up and then go short. Otherwise, if you don’t break through the 2220 line, the market will go back down directly, everyone pay attention.
