After spending a weekend, I feel that I have missed hundreds of millions. Before you know it, the market will always rise habitually, especially in the early morning stage. After last week's dip and rebound, and under pressure, the mainstream currencies held back the short position and fought a beautiful counterattack over the weekend, and the bulls still maintained a strong recovery.
On March 6, local time, the U.S. Senate voted to approve the plan with 50 votes in favor and 49 votes against. The plan still needs to be voted by the Democratic-controlled House of Representatives on Tuesday, and it is expected to be sent to President Biden for his signature before the March 14 deadline to extend the unemployment assistance program. Benefiting from this, the cryptocurrency market ushered in a general rise during the weekend. Bitcoin broke through the $50,000 mark strongly, and Ethereum broke through the $1,700 mark and continued to rise.
The 10-year U.S. bond yield has risen rapidly in recent weeks, which has impacted risky assets. Powell's speech last week did not show the Fed's intervention attitude, so the market fell into volatility. The market is still unable to clarify the impact of the 1.9 trillion economic stimulus plan on inflation and interest rates. The implementation of the economic stimulus plan is undoubtedly good for risky assets such as cryptocurrencies and U.S. stocks, but the 10-year U.S. bond yield continues to rise, which will depress risky assets.
For the $50,000 mark, Mr. Tan has emphasized many times the key area of "connecting the past and the next". As for whether to restart the bull market or continue to peak and under pressure, Mr. Tan is optimistic about the former (even if the bull market has not restarted, at least there will still be a wave of rebound After all, the market has been adjusted for a long time in the past few trading days, and it has been volatile for a long time, and there must be a breakout). First of all, on the surface of the news, many institutions have recently bought a large number of bitcoins, boosting market sentiment. Secondly, once the US$1.9 trillion stimulus plan is officially implemented, it will definitely explode the market. Secondly, from the technical point of view, this wave of correction on the daily line is basically coming to an end and gradually forming a sign of bottoming out. Today, we will focus on the stabilization of the $50,000 mark, and below, we will focus on the support of $48,000. If the line closes above this position tonight, tomorrow Continue to be bullish. For spot traders, every pullback is now a time for you to hoard coins. The best trading method is still to build positions in batches, and take profits in batches to take profits and exit.
The above paragraph was written after Bitcoin broke through the US$50,000 mark at the beginning of last week, but it is often sprayed by trolls because it has nothing to say. You want to give some help to many retail investors in the market, but many people don’t understand Gratitude is biting you. If you make money, you will face it, but if you lose money, you will turn your face and deny people. This is not chicken soup, it is reality, let alone in the financial market. A sharp rise in the market will definitely cause an uproar in the market, and being bullish or bearish will undoubtedly become the vane of "gambling" in the market. Teacher Tan just wants to say, stick to your own path, go on firmly, and the market will give you a perfect answer.
Last week, Mr. Tan gave a real-time mid-to-long-term layout for the market. Although the market has gone up and down, it does not affect the author's bullishness and prediction of the market. Today, I still insist on my own thinking and give a real-time plan. The medium and long-term target profit of Bitcoin is 5000 points, Ethereum 200 points, Wright 100 points, and Monero 100 points. As long as you dare to believe, any time is an opportunity. The tipping point, that is, when the opportunity opens, what are you waiting for.
Bitcoin (BTC): Short-term consolidation, breakout again. Looking at the daily line, Bitcoin closed strongly the next day. After standing firmly at the $50,000 mark, it continued to test upwards. The BOLL was flat. In the short term, continue to pay attention to the resistance around last week’s high of $52,600. Below, focus on the MA5/MA10 golden cross respectively Supported at $49,500 and $48,500, before falling below the two supports, it is still treated as a bullish trend. The short-cycle KDJ technical indicators are moderately upward, and the MACD in the attached figure has a downward potential. It is expected that Bitcoin will continue to maintain a volatile upward trend. In the short-term, Bitcoin took a strong backlash to $51,829.9 in the early hours of the morning. At present, a big negative line under pressure fell below the MA5 moving average. In the short-term, continue to pay attention to the support of the lower track of the overnight low BOLL at $49,800.
To sum up: there are many positive factors in the news this week, but the market has not ushered in a substantial outbreak. It seems that they are all waiting for the arrival of 3.12. Teacher Tan believes that if the market still cannot break down at this stage, then the restart of the bull market is just around the corner up. On the technical side, the short-term has been tossing and turning, but it has not broken the low in February. At the same time, the support below the $48,000 mark is also a good new number. Therefore, the teacher's suggestion for today's operation is to keep the low-many thinking and follow up. 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: 51800/52600 Short-term lower support level: 49800/49000
Ethereum (ETH): If it doesn’t go up, it will go up. Once it goes up, the bulls are astonishingly strong. In just two trading days, they directly broke through the two major barriers of 1,600 and 1,700 US dollars. The trend has directly changed from empty to long. On the daily line, Ethereum continues to receive positive results. After a strong break through the BOLL middle track, the overall market is running in an upward channel. In the short term, focus on the resistance and suppression around $1,780. The moving average MA5/MA10 is supported at 1566 and 1640 US dollars respectively. The short-cycle KDJ technical indicators are moderately upward, and the upward movement of MACD in the attached picture can increase volume. It is expected that Ethereum will maintain a volatile upward trend. To sum up: Ethereum went down and rebounded twice, the low support continued to move up, and the high position continued to innovate. The bulls are expected to continue to rise. Therefore, the teacher still insists on the low-multiple thinking for today's trend.
Short-term upper resistance level: 1780/1800 Short-term lower support level: 1680/1640
