In his speech early this morning, Powell acknowledged the volatility in the bond market, expressed concern about tightening financial conditions, and denied raising interest rates. The attitude towards inflation is to expect inflation and be patient with inflation. Its forecast is to anchor dollar inflation at 2%. If the Fed's monetary policy is effective, then the dollar will have a sustained and mild inflation next. The motivation is to stimulate economic development through this mild inflation. However, it is inevitable that some funds will flow to financial markets, including currency markets.

Judging from the development of the epidemic, the real economy this year should be better than last year. And dollar inflation may not be worse than last year. So the next U.S. stock market may not be like the situation last year. Last year’s U.S. stock market rose a lot and was almost separated from the real economy. This year’s U.S. stock market growth may be more moderate and more practical. It may not even drop a bit now and then.

If Bitcoin and U.S. stocks enter a certain degree of correlation next, Bitcoin may also enter a slow bull. This kind of slow bull may not be in the same form as last year. Last year, both U.S. stocks and Bitcoin were rising, so Bitcoin’s rise was not too fast or tortuous. However, this year's U.S. stock market may not rise more than last year's U.S. stock market, which means that some speculators will turn to chase Bitcoin, but they will quickly withdraw after Bitcoin rises. Therefore, this year's Bitcoin slow bull may be more tortuous than last year's, showing more dramatic ups and downs. Of course, regardless of the correlation of the US stock market and the impact of the macro economy, the cycle after the Bitcoin halving is still rising, and the ups and downs of Bitcoin will still show an upward trend.

Bitcoin (BTC): The market has skyrocketed and plummeted, dealers have repeatedly washed the market, and the price of the currency has finally slashed at the $52,000 mark and fell under pressure. Looking at the daily line, Bitcoin closed slightly negative, and the whole is running in a downward channel. The moving average MA5/MA10 crossed the golden cross to form resistance suppression in the area of ​​49,000 US dollars. The key resistance is located at the BOLL middle rail at 50,000 US dollars. The low is at the $46,000 mark. If it breaks down effectively, we will continue to be optimistic about the February low at the $43,000 mark. Guide btc7678's short-cycle KDJ technical indicators to ease downwards, and the attached MACD's downward potential energy will increase again. It is expected that Bitcoin will continue to maintain a volatile downward trend. In the short-term, Bitcoin will rebound in the Asian market. It is currently adjusting around US$47,000. This momentum will be maintained until the European market. The gains and losses at the US$47,000 mark will also determine the short-term rise and fall. In the short-term, the focus will be on US$46,000-48,500 In the interval, break the position and follow the trend. In terms of contract trading, Mr. Tan suggested that the high altitude should be the main one, and the low and multiple should be supplemented.

Short-term upper resistance level: 47500/48500 Short-term lower support level: 46000/45000

Ethereum (ETH): ETH followed Bitcoin down with a more pronounced bearish trend. The daily line closed down and continued to drop. Today, it fell below the support of the two moving averages and turned into short-term resistance (1530, 1500 US dollars). The Asian market below tested the 1445 US dollar mark and showed a certain rebound. The momentum of the rebound is relatively weak. At present, Ethereum continues to be under pressure to adjust around US$1,460. Following this momentum, it is expected to break through the low level of the Asian market and continue to drop to US$1,400. Therefore, for today’s operation, Mr. Tan’s suggestion is to maintain a high-altitude thinking.

Short-term upper resistance level: 1500/1530 Short-term lower support level: 1420/1400

Ripple (XRP): Since February 23, the overall trend has been under pressure and has fallen all the way to the $0.39 area. Then it rebounded at the end of February and continued to rise to a maximum of $0.4945. The next day In the case of mainstream currencies plummeting, Ripple bucked the trend and rose, but lost most of its gains today. On the daily line, Ripple is negative, and the overall trend is running in a downward channel, with continuous pressure on the $0.5 mark to go down. Below, we will focus on the support around $0.4. The operation suggestion is to keep the high altitude.

(Text/Talk about Yu Kai)

This article comes from the author Tan Yu Kai, please indicate the source when reprinting, please respect personal opinions, and do not plagiarize. The intraday market is changeable, and the article is time-sensitive and lagging. No express or implied guarantee is provided for the accuracy, reliability or completeness of the contained content.

(Text/Talk about Yu Kai)