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Article writing time: March 13, 12:54 PM Beijing Time
Market Information
- The Central Bank of Russia proposed to open cryptocurrency trading to specific local investors;
- Santiment: Cryptocurrency market trading volume has been declining since February 27, and market sentiment is becoming cautious;
- A Massachusetts lawmaker proposed the establishment of a special committee on blockchain and cryptocurrency;
- February CPI inflation has cooled, leading to increases in Bitcoin and the U.S. stock market;
- Market news: Trump will soon announce that Federal Reserve Governor Bowman will serve as the federal chief bank regulator;
Market Review
The CPI data released last night was lower than expected, indicating an improvement in inflation, which is positive for the market. Bitcoin and Ethereum also experienced a slight rebound. Yesterday, we anticipated that the market would first undergo a correction before rebounding. Influenced by the CPI data, the market rebounded initially and then experienced a short-term decline, before recovering again. The lowest point of the decline was 80,507, while the layout point was 79,500, a difference of a thousand points. Those who laid out short positions should have also stopped out. The high point reached 84,487, and the market did not provide a decline yesterday, indicating a greater chance of a rebound today. Ethereum is similar; the entry point for long positions around 1,780 was not reached, with the lowest being 1,828. Ethereum's fluctuations are slightly smaller, and opportunities for long positions can be sought during the day.
Market Analysis
BTC:
From the daily chart, the pressure of the 200-day moving average for Bitcoin was basically touched at the close of the morning session, without a long upper shadow being formed. The short-term pressure is not very strong. If the 200-day moving average is broken, the market will welcome a wave of acceleration. With inflation slowing down, the market will also see a rebound. The pressure above is not strong, and short-term trading can be arranged for long positions, entering around 83,000, with an additional buy at 81,600, stop loss at 80,800, and a target of 86,600. If broken, hold until 90,000, and manage your entry opportunities; for short-term trading, control risks and manage your own profits and losses.
ETH:
From the daily chart, Ethereum's rebound strength is relatively weak. Yesterday's movement ended with a small downward shadow line at the bottom, and it has not yet gained momentum. The previous daily close with a bullish candle is a rebound signal. Trading can also follow Bitcoin for long positions, focusing on breaking the short-term high point around 2,550. Recommended entry point is around 1,850, with a stop loss at 1,750, and a target first at 2,100, and if broken, look at 2,450. Manage your entry opportunities; for short-term trading, control risks and manage your own profits and losses.
In summary:
Bitcoin shows signs of a short-term breakout; pay attention to seizing opportunities in trading.
The article is time-sensitive; be aware of risks. The above is only personal advice and for reference!
Follow the WeChat public account "Crypto Lao Zhao" to discuss the market together;
If you don't like it, you must have your own standards for what you do like. All negativity is the opposite of positive perception. The matter itself is not important; what matters is what changes you can achieve through it and what impact it can have! Some prefer a one-sided market, some prefer volatility, some excel in upward trends, while others are obsessed with downward trends. No one is absolutely right, and no one is absolutely wrong. If you don't like it, it may not meet your standards; what you cannot do may be what others excel at.
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