Preface: Investment carries risks, and operations should be cautious.
Article review takes time, and there may be delays in publication. The article is for reference only, welcome to read!
Article writing time: March 3, 14:12 Beijing time
Market Information
Opinion: When all countries hold a large amount of Bitcoin, the new world reserve currency will default to Bitcoin;
Coinbase CEO Brian Armstrong stated that a U.S. cryptocurrency reserve consisting solely of Bitcoin "might be the best option."
Bitcoin critic Peter Schiff admitted that "Bitcoin is digital gold."
Trump stated that the cryptocurrency strategic reserve will include Bitcoin and Ethereum: Truth Social;
Trump will establish a U.S. cryptocurrency reserve;
Market Review
On Friday, news emerged that the Texas state and the Commerce Committee passed a strategic Bitcoin reserve and submitted it for Senate review. Last night, Trump announced that Bitcoin, Ethereum, and some other cryptocurrencies would be included as strategic reserves for profit, leading to a market surge. Bitcoin peaked at 94,971, while Ethereum reached a high of 2,550. From a technical perspective, it was mentioned on Friday that defending the 79,500 level on the daily and weekly charts would indicate a rebound. Although no positions were established in the article, positions were set offline, and the rebound reached around 95 as expected. The Ethereum article also established positions, with the rebound reaching the target of 2,450, yielding at least 350 points in profit. Currently, after Trump released policy news, the market still has room for upward movement. It is recommended to focus on low long positions in trading;
Market Analysis
BTC:
On the daily chart, Bitcoin formed a bottom doji near support on Friday. This kind of movement typically suggests a long position in conventional trading. Although no positions were established in the article, offline opportunities were provided for entry, which can be verified. Currently, the news is favorable, and Trump mentioned that the reserve currency will include Bitcoin and Ethereum. On March 7, he will host a cryptocurrency summit, which is also positive for the crypto space, and a rebound is expected. The weekly chart has already recovered, and the daily chart is within the previous fluctuation range of 110,000 to 90,000, with 90,000 serving as strong support. In future trading, long positions can be established around this support. Recommended entry points are near 91,000, with 89,500 for additional purchases, a stop loss at 87,500, and a target of 100,000. Please manage your entry accordingly; for short-term trading, control risks and manage profits and losses independently;
ETH:
On the daily chart, excluding the news, the 2,100 level is also considered strong support. After reaching this support, the market rebounded, and Friday's long positions yielded a minimum profit of 350 points. With the influence of reserve currency policies, further rebounds are expected. The trading strategy is to buy on dips, with recommended entry points around 2,310, an additional purchase at 2,210, a stop loss at 2,100, and an initial target of around 2,860. If it breaks through, it can be held until around 3,100. Please manage your entry opportunities; for short-term trading, control risks and manage profits and losses independently;
In summary:
Both Bitcoin and Ethereum have reached support levels, and the news is favorable. In trading, focus on long positions;
The article is time-sensitive, be aware of risks, and the above is only personal advice for reference!
Follow the WeChat public account "Crypto Lao Zhao" to discuss the market together;
All sources of suffering stem from the pursuit of certainty. Impermanence is the norm and the way life should be. Always wanting to grasp the market, not acting on a 50% certainty, not acting on a 70% certainty, must wait for a 100% certainty—where is there a 100% certainty in the market? Trading is about trading risks, trying to make the odds stand on your side. Those who give love receive love in return; blessings come to those who give. Sometimes, learn to take a little loss, be a bit foolish, a bit clumsy. For example, if the market is bullish, once this is confirmed, don’t get too rigid with your position, lower your position size a bit, and then get in first; if it reverses, so be it.
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