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 6, 12:31 Beijing time
Market Information
- Former Federal Reserve Chairman: Central banks will find it harder to control inflation in the future;
- Russian Ministry of Finance: No plans to add cryptocurrency assets to the national welfare fund's investment structure;
- The Republican Party in the United States held a cryptocurrency meeting, with crypto companies like Paradigm, a16z, and Coinbase in attendance;
- Belarus is considering developing cryptocurrency mining after the Trump reserve plan;
- The Florida gubernatorial candidate supported by Trump hopes to add Bitcoin to the state's investment portfolio;
Market Review
Yesterday, we predicted that there was still room above for Bitcoin, looking at least at 92000. The market arrived as expected, with Bitcoin reaching a high of 91988, basically hitting the target. Those who bought at 82000 made a small profit of 10000 points and exited. Congratulations to those who followed along and made back the previous two losses along with some profit. After yesterday's layout, Ethereum has now reached a high of 2295, with a profit of about 130 points. It hasn't yet reached the target of around 2450, so Ethereum can still be held. Reduce positions and use a trailing stop to continue aiming for the target. Tomorrow is the crypto summit, and there will also be non-farm payroll data. With frequent news, remember to protect yourself in trading;
Market Analysis
BTC:
From the daily chart, this rebound of Bitcoin is different from the previous one. The earlier one was a quick rise followed by a rapid fall, while this rise is slow and steady. Yesterday we mentioned the target of 92000, which has now been reached. In the future, pay attention to whether the previous high of 95050 can be effectively broken and whether it can stabilize at 95600. Once stabilized, we will test the next resistance around 99500, where the chips are densely packed. Tomorrow's crypto summit should also release positive news. Currently, after exiting our long positions, it is not very suitable to re-enter long here. Either wait for a pullback to re-enter long or chase the rise after a breakout. In trading, it is not recommended to short; focus on going long. Recommended entry point is around 87600, with a stop loss at 84600, targeting 95000. If there is no pullback and it stabilizes at 95050, you can go long directly, with the initial target at 100000, and adjust based on the trend after breaking through; manage your entry opportunities yourself; for short-term trading, control risks and manage your own profits and losses;
ETH:
From the daily chart, the upward momentum of Ethereum is a bit weak. The profit from yesterday's long position is only about 130 points. Tomorrow's crypto summit should also lead to a rebound. With Ethereum as a reserve currency, long positions can still be held. Reduce positions and use a trailing stop to continue aiming for the target, which remains around 2450. After reaching that, pay attention to stabilizing at 2500. Before breaking through the previous short-term high of 2552, the next target is around 2860, which is a pressure point from previous fluctuations. In trading, continue to hold long positions, first looking at 2450, then 2860. Manage your entry opportunities yourself; for short-term trading, control risks and manage your own profits and losses;
In summary:
Focus on breaking the upper pressure for Bitcoin and Ethereum, and continue to prioritize long positions in trading;
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 will receive love in return; those who bring blessings will receive blessings. Sometimes, learn to take a little loss, be a bit foolish, a bit clumsy. For example, if the market is bullish, once that is confirmed, don’t get too stuck on the position, lower your position a bit, and then get in first. At worst, it will reverse.
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