The recent currency circle can be described as turbulent, and the news cannot be poor. The banker is still the banker, and the retail investors are not necessarily the same retail investors. As long as there is a "huge shock" in the market, retail investors will always be injured. In the past 24 hours, many friends experienced surprises and then were shocked. No, it was a feeling of no crying or tears. After experiencing the "roller coaster" market, do you feel okay now?
On the occasion of the European market the next day, Tesla announced that it supports consumers to directly purchase Tesla electric vehicles with Bitcoin. Musk sent three tweets in a row to "call out" Bitcoin. Bitcoin immediately rose by more than 4,000 points, reaching a peak of $57,188. "It's hard to buy a cow to turn around, rush." Many people said. During the U.S. market that night, Bitcoin began to fall, and market sentiment took a sharp turn for the worse. In the early hours of the morning, Bitcoin continued to dive until today's Asian session. The lowest fell to $51,500, a drop of more than 5,000 points. According to market data, 10.8 billion yuan was liquidated in 24 hours, and 224,000 people were liquidated in 24 hours. "The cow is dead. It's all a scam. Musk calls for cutting leeks alone." Many people said.
Perhaps the most obvious reason for Bitcoin's decline can be attributed to U.S. stocks.
Perhaps the most obvious reason for Bitcoin's decline can be attributed to U.S. stocks.
Last night, the Nasdaq, S&P 500, and Dow all fell, with the Nasdaq falling 2%. In terms of individual stocks, FAANMG technology stocks fell across the board, Chinese concept stocks plummeted, Tencent Music, iQiyi, and Vipshop plummeted. In fact, if you just look at the Nasdaq, the data shows that it has almost fallen for 6 consecutive weeks. Of course, if you compare the Nasdaq, the S&P 500, and the Dow, the declines are quite different, with the Nasdaq leading the decline and the Dow resisting. Yu Kai in the currency circle believes that capital has raised inflation expectations, and is worried that the cycle of interest rate hikes or balance sheet shrinking will be advanced, so funds have been transferred from high-growth stocks to more cyclical sectors with more stable cash flows.
Back in Asia, judging by the Hang Seng Index, it also fell for 6 consecutive weeks. What about the A-share Shanghai Composite Index? The same is true. In other words, the global financial market has actually entered autumn, and the callback is an obvious trend. However, the cryptocurrency market led by Bitcoin actually continued to rise in the context of the global stock market correction. On March 14, it hit a record high of 61,800 US dollars. After that, it gradually started a two-week decline.
Recently, the trend of Bitcoin following the U.S. stock market is very obvious. When U.S. stocks fall, it is difficult for Bitcoin to resist the fall. This made some people complain that they wanted to simply speculate in a currency, but they didn't expect to care about the global macro economy now. This may reflect that with the entry of US institutions into cryptocurrencies, the correlation between the Bitcoin market and the entire financial market is increasing.
Bitcoin (BTC): Be long and long, be short and short, and adjust your thinking in time following changes in news and technical aspects, which is the first strength to control the market. I dare not say that I can completely catch the top and completely buy the bottom. After all, there are no such amazing people in the market. "Same.
At the beginning of the week, Mr. Tan wrote in the article that the feeling of "deviation of the daily line" is familiar, so he has been very cautious about this week's operation, and did not change in time until the currency price effectively fell below the 55,000 USD mark. train of thought. The news is mainly because there are three major negative factors this week: the rise in US Treasury yields, the bearish trend of Bitfinex, and the struggle of the risk appetite market, which Teacher Tan also emphasized in the article. The second is that the technical side fell below the middle rail position of BOLL. After the currency price completely broke last week's low (below 53,000) the day before yesterday, I strengthened my thinking. From the early morning stage to today, the Asian market continued to break down to the 51,500-dollar line, and the bearish trend intensified, and it is even expected to retrace the 50,000-dollar mark.
As the "institutional bull" market gradually digested in the middle and early March, and the negative factors in the news continued, the currency price has been under pressure until it broke out completely this week. There is no doubt that the market that breaks the position should go short. Judging from the market trend this week, the strength of the rebound is also limited. The bulls are weak, and this time the shorts completely overwhelmed the bulls. The bulls don’t talk about the top, and the shorts don’t talk about the bottom. Let’s look at the support of $50,000 below. If it continues to break down, this wave is expected to call back to the range of $46,000-47,000. In terms of short-term operations, the teacher still recommends that the high altitudes should be the main strategy, and the low and high prices should be supplemented. At present, many spot traders in the market are hoarding coins at a high level, not to mention profit taking, they are likely to be chasing high school losses, and are in a dilemma. At present, the best way is to choose contract transactions for hedging. 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: 53000/54000 Short-term lower support level: 51500/50000
The U.S. stock market led the financial market to plummet, especially the digital currency market collectively turned green, ending dismal. ETH (Ethereum): The trend of breaking positions is more obvious, and there is still room for callbacks below. In the short term, focus on the resistance of $1,610 and the support of $1,550 below.
Short-term upper resistance level: 1610/1630 Short-term lower support level: 1550/1520
FIL: The mainstream coins and altcoins in the market have plummeted, but I am the only one who is thriving, and the show is still so popular, bucking the trend and rising by 8.2%. For the first time, under the boost of good news and production cuts, the first wave hit the $96 mark, and the second wave hit the $95 mark this week. Eating meat in this wave of market conditions, but some people are still waiting to see and prepare to enter the market. If they are full, they can get out of the car and wait. Just empty. The strong resistance at the top is at the $100 mark, and the bottom is concerned with the support at the low level of $73 in the first wave of retracement.
