On the morning of March 12, 2021, Bitcoin rose as scheduled in the short-term, breaking through $58,000 per coin for the first time since February 22, and it was only one step away from a record high. The cryptocurrency market continues to be busy as bitcoin becomes more popular with investors. In addition, the three major U.S. stock indexes closed up collectively, with the Dow and the S&P 500 hitting record highs. The Dow rose 0.58%, the Nasdaq rose 2.52%, and the S&P 500 rose 1.04%. U.S. President Biden signed the $1.9 trillion new crown bailout bill, marking the bill's formal entry into force.
Bitcoin (BTC): "Buy expectations and sell facts", Mr. Tan thinks this is a reflection of the market prophets, especially the panic brought to the market by the 312 historical plunge. The next day's market is indeed quite interesting. The Asian market continued to fall, and the currency price successively fell below the three major barriers of 57,000 and 56,000/55,000 US dollars. It can be seen that the decline is still relatively strong, but the currency price fell during the European market and rebounded until the US market The price of the currency continued to rise, and in the early morning it broke through the $58,000 mark, and the market recovered all its losses. The price of the currency will rise as it falls, and the market will go up and down. It is the dealer who is taking advantage of the gimmick to cut leeks quietly. This is all expected by Mr. Tan. Looking at the recent articles, it is clear . For the recent guidance, it also fought a beautiful battle, only taking profit.
Many people don't know whether the ups and downs of the market are good or bad at the current stage, but it is definitely good for Mr. Tan. Risks come from rising, and opportunities come from falling. I escaped from high positions twice, and then grabbed more from low positions. This is not a talk, but an iron fact. Looking back at the market of the next day, the simple explanation is that it went down and rebounded and took a "V" shape, and the daily line also turned from yin to yang, which shows how strong the bulls are. Many people will ask where the bitcoin bulls are looking, and there is no doubt that they will continue to look at new highs (tentatively set the range of 58,500-60,000 US dollars), but this process may encounter some setbacks, that is, today's 312 market, will there be any surprises? No one knows about the smashing.
If a flash crash is triggered, as long as it does not fall below the $52,600 area (the high level of last week), we should first look at the adjustment in the short term and then look at the long term. If the trend is normal, Teacher Tan thinks that the currency price will follow the trend and rise. Judging from the current (312) Asian market trend, Mr. Tan is more inclined to the latter, why? Many people thought it would plummet. Will the dealer really cut leeks at this moment? The fact of buying expectations and selling is gradually being digested. The opposite is thinking against the trend and needs to be done in the opposite direction, because Mr. Tan dares to do and think.
The daily Bitcoin has seven consecutive suns, and the high level of each day is the low level of the next day, and the currency price has risen steadily. BOLL is in a slightly open state, and the upside is expected to gradually extend upwards with market adjustments. The continuous golden cross of the moving average MA5/MA10 provides support at 55,800 and 52,700 US dollars respectively, and there is no obvious resistance above. It hit the $58,000 mark twice and fell under pressure. After all, this is a historical high point, so it is only for reference in the short term, because there is no peak in the bull market. The short-cycle KDJ technical indicators are running moderately, and the kinetic energy above the MACD in the attached picture is increasing. It is expected that Bitcoin will continue to maintain a volatile upward trend. In the short term, Bitcoin fell back from the first-line high of US$58,145.9 to US$57,000 for adjustment. The current market in Asia is still in the process of adjusting at a high level. If you trade contracts, you can only wait. Below, focus on the support of US$56,000. This is also the case in Asia and Europe The key point for determining the long and short direction of the disk, but the general direction is still on the long side. For today's market, we can operate in a steady manner, watch more and trade less. It is best to control the risk on the critical day, because this will also determine the market situation on the weekend. Once this time point has passed, we will operate drastically. . 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: 57500/58500 Short-term lower support level: 56000/55000
Ethereum (ETH): If you don’t know how to grasp a market, the easiest thing is to follow the trend. Don’t listen to the wind and rain, but know that the rain is the wind. This is meaningless. The trend pattern of Ethereum and Bitcoin is the same, but the short-term volatility of Ethereum is stronger than that of Bitcoin. Ethereum’s daily upward trend line remained intact, and it closed up strongly the next day. The short-term surges and falls were maintained around the MA5 moving average. In the short-term, focus on the resistance around $1,850, and below that, focus on the support around $1,760. Breaking down or breaking down will also determine the short-term trend, but Mr. Tan is optimistic about the high-level adjustment first, and then gain momentum to pull up. The focus of trading is not how to operate or how to make money. The first principle is to control risks. In the currency circle, many novices and even veterans do not know the concept of risk. They only know that the operation is as fierce as a tiger. Recently, many friends have found Tan Yukai, and after in-depth understanding, they are all the same "sickness" (set orders, lock-ups, liquidation, confusion, losses, etc.). Teacher Tan can only express his deep regret. Skills, not a blind operation.
Short-term upper resistance level: 1850/1880 Short-term lower support level: 1760/1720
