Recently, U.S. debt has attracted a lot of attention in March, but Bitcoin still competes for real-time hot searches due to its repeated price fluctuations. During this period, it was accompanied by the continuous holding of institutions and the emergence of regulatory measures. After Bitcoin fell below $50,000 at the end of February, Bitcoin broke through the $50,000 threshold this week, and then continued to rise, reaching as high as $57,434.8. As a result, the market value of Bitcoin once again exceeded 1 trillion Dollar. Under the accelerated volatility of the bond market, stock market and traditional assets due to inflation expectations, large and small institutions have entered Bitcoin and other cryptocurrencies one after another, and their rhetoric has also turned to "the need to deploy blockchain."

The most notable Bitcoin price correction occurred on March 12, 2020 (also known as "Black Thursday"), and this price drop may reflect the cyclical nature of the Bitcoin asset. Currency circle analyst Tan Yu Kai believes: "The historical price seasonality in March is not good for Bitcoin. Knowing this, traders will be more cautious when doing long." This kind of price seasonality is also very important in the encryption fear and greed index obvious. According to the index, a value of 0 indicates extreme fear and a value of 100 indicates extreme greed. Historically, the index fell to a lower level in March than it had been before March of this year.

The first two bitcoin exchange-traded funds (ETFs) in North America have launched in Canada amid a market downturn. Both of these ETFs have proven popular despite the slump in the market. Bitcoin ETFs are doing well despite the market drop, another sign that institutions see the recent dip as a healthy pullback, an opportunity to buy more bitcoin at a lower price. The 2021 crypto bull market has brought many new investors to the cryptocurrency market. Some investors are drawn to the asset class due to Bitcoin's high rate of return compared to traditional investments such as stocks, commodities, and bonds.

This week’s historic hoarding of coins by Chinese and foreign institutions is undoubtedly the key to restarting the bull market at this stage. The restart of the bull market has once again boosted market sentiment, but it is still a little bit away from the goal of this stage. Bitcoin is looking at the $60,000 mark in the medium term. Ethereum Square’s $2,000 mark, Bitcoin Cash’s $700 mark, etc. For the goal that is close at hand, you need to give the market a little time to brew and adjust the market, and the explosive market will never be absent. With the arrival of 3.12, many retail investors in the market have a sense of panic. Looking back on how many retail investors were buried on this day (the historic plunge day before 2021), no one wants to "repeat history". If there is a callback at this stage, Mr. Tan thinks it is normal. He said in the article yesterday: If there is no such day, it is not a problem for Bitcoin to directly look at the $60,000 mark. Opportunities come out, especially for contracts and spot stocks in the medium and long-term. If the market dares to pull back, I dare to make arrangements. A technical pullback in a bull market is normal, as long as it is not a retaliatory plunge.

Bitcoin (BTC): This week’s institutional bulls have led to a continuous rise in the price of the currency. It broke through the $57,000 mark overnight and rebounded from the bottom of the low $43,000 mark to $57,434.8. This wave of bulls is gone More than 17,000 US dollars, in just a few dozen trading days, it can be seen how strong this wave of bulls is, and how long this wave of bull market is! Bitcoin fell under pressure in the Asian session today, once breaking through the $56,000 mark to around $55,200. This trend is very similar to the trend in the Asian session the next day. The daily line has six consecutive positives, and the bullish trend is still there, but in the short term, with the decline and adjustment of the market, there are still signs of a correction in the currency price. The lower part focuses on the support of $55,000, and the upper part focuses on the resistance of the $56,700 mark. If the European market continues to bear If it is under pressure, it will be optimistic about a wave of callbacks. If it fluctuates upwards, it will continue the upward trend, so at present we need to wait patiently. Upward or downward, we need to control it according to the real-time market, but the general trend is still biased. There are many, so for trading, Mr. Tan still recommends to maintain a low-multiple thinking for trading. If you are uncertain about the interpretation of technical market and news, or you have a set list, you can discuss it with Mr. Tan. Subscribe to the official account; Currency Circle Retail Alliance.

Short-term upper resistance level: 57000/58000 Short-term lower support level: 55000/54000

Ethereum (ETH): After the Bitcoin show and the Ethereum show last night, the two major currencies surged strongly, but today the two Asian markets ushered in a dive. Ethereum broke through the low level of the next day, and the daily line closed slightly negative and directly gave up all its gains. The current market is adjusted around the MA5 at $1787. Although the overall market is running in an upward channel, the bulls have slowed down. Below Focus on the support of MA10 at $1690. The short-cycle KDJ technical indicators are running moderately, and the upward movement of MACD in the attached picture can increase volume. It is expected that Ethereum will maintain a high level of adjustment. In the short term, Ethereum is in a weak adjustment in the Asian market, especially after falling below the middle track of BOLL, it is under pressure. The dead cross of the moving average MA5/MA10 suppresses its upward movement. In the short term, focus on the suppression around $1820, and focus on 1760 below. The US dollar is supported by the belt (it dropped twice in the Asian market), and the break continues to look down. In terms of trading, the main and auxiliary short thinking can be maintained. The mainstream currencies recommended on March 6, such as LTC, BCH and XMR, all ushered in a surge as scheduled, and they can still be held in the medium and long-term no matter whether they are spot or contracts.

Short-term upper resistance level: 1820/1850 Short-term lower support level: 1760/1720