The first anniversary of 3.12 is approaching. Compared with the "slump day" recorded in history last year, the current market is really "two days of ice and fire". Recently, many friends joked, "I won't be fooled by 312 again this year." In fact, we are very clear in our hearts that the reason for our confidence is that the bitcoin and encryption markets this year are very different from previous years, because Wall Street institutions and listed companies that we could only imagine before have really come. Then the market will continue to expand like this, and will this round of bull market continue?

Now there is a consensus that the last round of bull market was "retail bulls", and this round of bull market is more inclined to "institutional bulls", which is different from whether the market is dominated by "retail investors" or "institutions". The biggest difference between retail investors and institutions is that institutions pay more attention to "certainty". Perhaps it is because of the anti-inflation demand under the background of the global "big flood" that the adoption of Bitcoin continues to expand, and the DeFi boom on Ethereum continues to drive. Let institutions see the future of Bitcoin and cryptocurrencies.

Why do institutions, especially listed companies, enter the market one after another? Or because of the virtuous circle brought about by the bull market, many institutions saw that the institutions that entered the market first tasted the sweetness, and followed suit.

Especially after Tesla, the electric vehicle leader of Musk, the "richest man on earth", suddenly announced a large-scale allocation of Bitcoin as the company's asset reserve, the mentality of global capital has entered a subtle change. Different from those purely speculatively driven financial "giants" on Wall Street, the asset allocation of listed companies needs to be unanimously decided by the board of directors and shareholders' meeting. , Throw it away the next day when your head is cold, and these configurations are real money and visible investment.

Simply put, listed companies began to include Bitcoin and other encrypted assets as part of their asset allocation because they saw their future. As Meitu, a listed company that recently announced the allocation of Bitcoin and Ethereum, said in its announcement, it has seen the future of encrypted assets and is ready to enter this technology field in advance.

Of course, listed companies are quite rational, and not all companies will participate, depending on whether conditions permit, just as people’s consensus cannot fully reach a consensus to accept things like Bitcoin. Companies and institutions are also composed of these different individuals and represent their will. In any case, the intervention of listed companies has created a precedent for the large-scale adoption of Bitcoin and brought more confidence to the market.

Bitcoin (BTC): In the early hours of this week and in the Asian market, it is always habitually pulling up. Bitcoin continued to rise sharply and broke through the $55,000 mark today, reaching the highest line of $55,823.2. It can be seen that the bulls are relatively strong. In the short-term, there was a sharp drop and the needle fell by more than 2,000 points. At present, the overall market is adjusting at the $54,000 mark. Teacher Tan thinks that this wave of callbacks is premeditated. The market has soared this week and is approaching historical highs again. With the arrival of the historic crash on 3.12, the panic caused by "buying expectations and selling facts" has caused many retail investors to wait and see. This wave of bottoming and recovery has perfectly reached the medium and long-term goal of Teacher Tan's layout. Congratulations to those friends who trust and keep up with the operation!

There is no doubt that the general trend of Bitcoin is bullish, especially under the recent boost of institutional bulls, the next step to set a new record high is just around the corner, but it is currently approaching a key point of 3.12 (historical plunge day), if there is no such day. , Bitcoin is directly looking at the $60,000 mark. Teacher Tan dares to imagine, but the author is responsible for those friends who trust me, and would rather wait and see than blindly enter the market. In the short term, the Asian market will rise and the European market will rebound, but it is still under pressure. Looking back on the market trend in the past few days, the daily Si Lianyang did not have too many callbacks, and every time there was a short-term callback, the market always digested and pulled up during sideways adjustments. Teacher Tan felt that this was a false High, just like today's Asian market, the faster the rise, the faster the fall. For the short-term, the bottom is still focused on the support of $53,000, and the top is focused on the resistance of the $55,000 mark. If the position is broken, follow the trend. At around 3.12, Mr. Tan will first look at the fall and adjust before looking at the potential pull up. Risks must be well controlled in 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: 55000/56000 Short-term lower support level: 53000/52000

Ethereum (ETH): Today's trend is consistent with Bitcoin in both the general trend and the short-term. After the daily line has four consecutive positives, the bulls continue to rise, reaching the highest line of $1877.31, which is close to the $2000 mark. The target is also within easy reach as the market rises. After the trend of Ethereum began to rebound from the bottom line of $1292, it is in an upward trend as a whole, and this momentum remains good. The top focus is on the $1900/2000 mark. If it breaks up, you can continue to look up. Focus on the support of MA5/MA10 at 1750 and 1660 US dollars respectively. In the short-term, the Asian-European market is undergoing a wave of dips and rebounds. In the short-term, focus on the resistance around $1,830, and continue to pay attention to the support of $1,750 below. At present, continue to wait to see the overall operation of the European market. Breakthroughs continue to look upwards. If you are under pressure Looking down, the short-term can be determined by following the market. In terms of contract trading, the teacher's suggestion is mainly low and long.

Short-term upper resistance level: 1830/1870 Short-term lower support level: 1750/1720

(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)