3.21 The Federal Reserve maintains interest rates, and the cryptocurrency market enters a range-bound adjustment pattern again in the short term. Analysis of Bitcoin's future market.

CN
孟晓瀚
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10 days ago

In the early hours of March 20, the Federal Reserve's interest rate meeting maintained the interest rate unchanged, leading to a wave of rebound sentiment in the market. We had predicted on Monday that the market would ease after the interest rate meeting, as U.S. stocks and the cryptocurrency market had fallen for two consecutive months, and a slight easing would be beneficial for the future market. Unfortunately, the long position strategy provided was regrettably ineffective.

Currently, from the daily chart perspective of Bitcoin, after the K-line formed an upper shadow and touched the MA30 moving average, it faced resistance and fell back. (The daily MA30 moving average and the weekly K MA5 moving average overlap, both serving as strong resistance at the current upper box top. The reference price is around 87,500.) The current daily indicators lean towards a volatile adjustment trend. Combined with the 12-hour chart, the price rise is constrained by the upper band of the Bollinger Bands, leading to the current price drop. Bitcoin is currently operating near the middle band, which can serve as short-term support, with a reference price around 83,000, and strong support at 80,000.

On the 4-hour chart, the K-line has experienced five consecutive bearish candles, and the current price has again retreated to the vicinity of the MA30 moving average for consolidation. The MACD and KDJ indicators are leaning towards a short-term adjustment. Combined with the hourly chart, the current market trend is inclined towards slight range-bound adjustments. In the short term, if Bitcoin retraces to around 83,000, one could consider a light long position.

Operational strategy: Bitcoin: Buy at 83,000-82,500 with a target of 85,000-86,500. Stop loss at 82,000.

Ethereum's trend is basically in sync with Bitcoin, but the trading volume is relatively small. The price fell back after hitting the daily middle band resistance. However, since the lower MA5 and MA10 moving averages are inclined towards an upward trend, a short-term retracement that does not break the lower range of 1,950-1,920 could also be considered for a long position.

Operational strategy: Buy at 1,950-1,910 with a target of 2,000-2,050. Stop loss at 1,890.

For the short term, we will focus on this, and further updates will follow.

Personal views are for reference only. Those who follow the trades should pay attention to risk management, and specific entry and exit points should be based on real-time guidance. Caution is advised when entering the market.

In the cryptocurrency market, there is no shortage of teachers, analyses, or operational advice. What is lacking is someone who can truly help everyone solve problems. Investment should not be blind; it requires rational choices and guidance. If you are still confused, it is advisable to find a professional teacher to guide you further. A scientific and reasonable trading system, along with position control and risk management techniques, can help you reach greater heights! It will lead you out of confusion and darkness! Just like you, who are still indecisive at this moment, hurry up and scan the QR code for surprises and real-time market analysis.

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