Don't cry poor; no one will give you money and pity for free. Don't shout tired; no one can always help you share the burden. Don't shed tears; most people don't care about your sorrow. Don't rely on others; the most reliable person is yourself. Don't lower your head; once you bow down, it will be ten times harder to lift it again. Don't show your downfall; don't give those waiting to see your jokes a chance. The path you choose to walk must bear the bumps, lows, and hardships; otherwise, why should you be better than others?
After a day of rest on Sunday, the market surprised once again. On Saturday, it was thought there wouldn't be much fluctuation, but unexpectedly, it fell again, with the low point around 81,700. Then, the market rebounded to around 83,500 yesterday before falling again, and as of this morning, it refreshed the low to around 81,300. The market's decline aligns with our expected analysis, and there is basically nothing unexpected. Previously, we analyzed the key support around 81,000; this position is the low point of the previous rise and also a liquidity-rich area for bulls. Currently, it is once again testing this position, forming support for a rebound. In terms of operations, Saturday was expected to see a fluctuating market, and there was no opportunity to short again near 84,500. The previously held short positions should have basically taken profits by now. Now, with a new week ahead, we will seize new opportunities and continue to create more profits together.
Dreams may be distant, but the heart is not afraid; steadfast action will lead to a promising future!
On the market, with the new week and today being the last day of March, there are still many things to analyze from a technical perspective. The monthly chart currently shows a long shadow doji candlestick, and generally, the market mainly moves in the evening and early morning. So, as today's market ends, it will likely conclude with a doji, and then a new monthly line will begin, which may bring about a wave of market movement. The end-of-month closing often has some surprises, so it’s worth paying attention to.
The weekly chart has already closed, and it is still clearly in a bearish cycle. The 7-day moving average is suppressing the market's movement, with current trend resistance around 85,600. This week, the bulls need to break through this position to end the short-term bearish trend. On the daily level, after the market peaked above 88,000, it fell back again, forming a descending wedge structure. From the technical indicators, the MACD bullish cycle is shrinking, and it is expected to form a bearish crossover, which intensifies the bearish sentiment in the market. The short-term moving averages are also turning down, with a bearish crossover expected. The resistance on the daily level is seen at the 84,000 position, the upper edge of the descending wedge.
The four-hour chart is particularly noteworthy, also in a bearish downtrend, with the candlesticks showing a downward arrangement. The lows are gradually testing lower. Here, we can see that after refreshing the low today, a bottom divergence has appeared, leading to a market rebound. The MACD is expected to enter a bullish cycle next, with the two lines below zero likely to golden cross again. It is important to note that the decline has been accompanied by volume, and after the indicators are repaired, there is a need to refresh the low further. Combining this with the daily chart, for the upcoming market, it still remains bearish as the upper resistance is heavy, making it relatively difficult to form a strong upward breakout in the short term. The market trend prediction is to first observe the four-hour small trend bottom divergence and how the rebound strength is under the bullish expectation of the indicators, followed by the daily level bearish market. In short, keep in mind that the current trend is dominated by bears.
In terms of operations, the main focus is still on positioning for shorts. If there is a rebound during the day, short near 83,200, add positions at 84,500, with a stop loss at 85,000, targeting 79,000-78,000. After the initial drop, there may also be a short-term long opportunity below 80,000, and then real-time operations can be conducted.
Ethereum has fallen below 1,800. Based on the current trend of the entire crypto market, it is hard to say where Ethereum will drop to. There’s not much to say about operations; short near 1,830-1,850 and continue to look for new lows.
【The above analysis and strategies are for reference only; please bear the risks yourself. The article is subject to review and publication, and market changes in real-time may lead to delayed information; specific operations should be based on real-time strategies. Feel free to contact us for discussions on the market.】
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