Market Review

In yesterday's macro layout, it can be said that the overall strategy was consistent throughout the market. Whether it was the short-term support prediction of the 3970 line for Bitcoin or the bottom fishing near 6.9W, it was perfectly reflected in actual trading. At the same time, the article also emphasized the application of the MA120 moving average on the 1-hour chart in contract operations. In a one-way trend, whether it is to determine support or resistance, it will be a perfect entry point for contracts. The market also demonstrated this, with Bitcoin hitting a low point of 6.86W in this round of retracement, perfectly rebounding after touching the 1-hour MA120, forming a new short-term bottom. We can maintain a bullish view by reducing half of the position. Attached: Real trading student operation records

Intraday Analysis

In fact, from a macro perspective, yesterday's impressive February CPI data was somewhat disappointing. However, under the trend of the overall market, even the bearish elements of the core data did not cause much turbulence in the market (mainly because the proportion of this round of CPI's upward trend in core inflation is not large). Traders' expectations for a rate cut by the FOMC in June remain unchanged. Since the bulls are still unstoppable at the moment, we should continue to follow the trend and not rush to bet on a reversal until there is a clear bearish signal in the market.

After discussing the data, everyone will definitely continue to pay close attention to the upgrade of Ethereum Dencun. In fact, this round of upgrade has already been announced as a clear card. Looking back at the recent upgrades, from 2.0 to Shanghai, the bullish nature of these upgrades has been reflected in the market. This is still a reaction to the low trading volume in the bear market, while this round of upgrade has a bull market as a bottom, so its performance is expected to be not too bad. However, should we focus more on the applications in its sector relative to the general bullishness brought about by the upgrade? Public chains, Layer2, zkRollup, on the basis of expanding storage, who will be the one to take off?

Back to the market, from the rapid rebound of Bitcoin after touching the 1-hour MA120, this round of small-scale retracement has already been completed. In the short to medium term, it will definitely attempt to challenge the previous high again. At the same time, from the perspective of the daily trend, the bullish trend is still strong. Although there is no reference point above 7W, this round of trend has already formed a bottom reversal as expected. We can initially focus on the 7.6W line through the upward channel, and if the BOLL upper rail on the daily chart can be extended, then there should be no problem with Bitcoin near 7.9W.

Intraday Suggestions

For Bitcoin, long positions can be sustained to around 7.3W, and re-entry is still possible around 7.13-7.17. For Ethereum, long positions can be firmly held, with a focus on breaking through the 4100 level, and if the breakthrough is successful, boldly target around 4160.

For more strategic guidance, follow Yunsan's Weibo, a financial analyst with 500,000 followers: Blockchain Yunsan

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