Zhou Yanling: Why Bitcoin Continues to Plummet on March 30, What Will Happen to the Cryptocurrency Market Next Week? Latest Prediction Analysis and Strategy
This weekend, the financial market has been tumultuous, with the cryptocurrency market experiencing consecutive declines following Friday's drop. Major cryptocurrencies like Bitcoin and Ethereum have seen significant decreases, and market sentiment has shifted overnight from optimism to panic. The main reason is that recent U.S. inflation data exceeded expectations, leading the Federal Reserve to potentially readjust monetary policy and further tighten liquidity. Concerns over interest rate hikes have intensified, causing a collective pullback in risk assets, and Bitcoin, as "digital gold," has not been spared. Additionally, institutional funds are retreating, and selling pressure has surged. With the rise of institutional investment products like Bitcoin ETFs, more traditional financial capital has entered the crypto market. However, amid increasing uncertainty in the global economic environment, some institutions have chosen to take profits or reduce risk exposure, leading to a sharp increase in market selling pressure. The outflow of funds from large institutions like Grayscale has further exacerbated market panic. Moreover, the recent launch of USD1 by WLFI, touted as a stablecoin pegged to the U.S. dollar, has also contributed to recent market volatility.
Furthermore, from a technical perspective, there was already a risk of a pullback. As early as before Friday, Yanling had been indicating that the market was set to decline. Many may have only focused on Friday's significant drop and did not anticipate such a continued decline over the weekend, but that is the nature of the crypto market. Currently, looking at the daily chart, although there was a rebound in the morning session today, the overall structure has not completely changed and is still in a downtrend. The MACD histogram on the hourly chart has turned positive, indicating potential short-term rebound momentum, but in the long term, it remains in a bearish zone. The hourly RSI is close to the overbought area (53.18) but has not reached extreme values, suggesting a relatively neutral market sentiment. Both EMA7 and EMA30 are below EMA120, indicating that the current price is below the long-term moving average, maintaining a bearish trend. The short-term EMA7 is close to the price, which may provide support. For today's operations, Yanling suggests continuing with a high-position short strategy.
Zhou Yanling's March 30 Bitcoin Trading Strategy:
Short at 84600-83800, stop loss above 85600, target 82700-82000
Long at 81900-82700, stop loss below 81000, target 84000-84800
Zhou Yanling's March 30 Ethereum Trading Strategy:
Short at 1910-1870, stop loss above 1960, target 1820-1790
Long at 1800-1830, stop loss below 1760, target 1890-1920
【The above analysis and strategies are for reference only. Please bear the risks yourself. The article's review and publication may have delays, and the strategies may not be timely. Specific operations should follow Yanling's real-time strategies.】
This article is exclusively shared by senior analyst Zhou Yanling (WeChat public account: Zhou Yanling). The author has been engaged in financial market investment research for over ten years, currently mainly analyzing and guiding BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, and other cryptocurrency contract/spot operations. For more real-time community guidance, consultation on position liquidation, and learning trading skills, you can follow the teacher (WeChat public account: Zhou Yanling) to find the teacher.
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