According to an article published on March 26th, as part of the US President Biden's $1.9 trillion relief bill, the US government issued a stimulus check of $1,400, but the cryptocurrency exchange did not see the expected surge in Bitcoin purchases.
However, the CEO of Voyager, the US cryptocurrency exchange, said: "Although it is too early to comment on the amount of funds brought by the recent stimulus plan to our platform, we should pay attention to the fact that in the previous stimulus plan, we saw a large number of deposits. The amount is equivalent to the check of a single stimulus plan."
BTC market analysis:
Yesterday, Bitcoin turned sharply as follows. The market fell below the heavy support, with a total drop of nearly 6,000 points. The low level approached the 50,000 mark, and the price rebounded. Up to now, the situation has improved, the bullish sentiment has recovered slightly, and the price has started to rise slowly, but the overall decline has not yet dissipated.
At present, the price is running around the 52300 position, and the follow-up focuses on the 53000-53300 suppressed area. If it can break through and stabilize in the day, the bulls may continue to heat up. On the contrary, there is retracement support in the intraday market, which may fall below the 50000 mark.
On the daily chart, a huge Yang column ended yesterday, and the short sentiment was relatively strong. Although the current market hit a rebound near 50,500, the upper suppression was not broken, and the resistance tended to move down.
If the strong rebound could not be achieved within the day, the market might be under pressure. The overall trend is still fluctuating downward, but the bullish sentiment has picked up slightly during the day, so it is recommended to rebound mainly from empty orders in operation.
On the short-cycle hourly chart, Bollinger Band is in a closing position. Although the upward price has broken through the middle rail position, the subsequent supply has been insufficient, the price has not been further explored upward, and the market has been under pressure.
Therefore, blind chasing is not recommended for short-term operation, so beware of the market pressure coming out of the deep callback. If it falls below the 50,000 mark in the day, the downward trend is expected to continue further. I hope you can make preparations in advance. The upper pressing focuses on the 53300-53000 area, and the lower supporting focuses on the first line position of 50500.
BTC operation strategy:
- Make short position when the price goes near 53000, stop loss: 53350, target profit: 52500-52300-52000
- If it breaks through the 50500, Make long position, stop loss: 50300, and target profit at 51100-51400-51700
ETH market analysis:
Ethereum was affected by the market yesterday, and it also went out of the deep callback. The low position approached the 1544 position, and then retreated again to support a small rebound. Up to now, although the price has gone up, the price has not broken the suppression area of 1610-1620, and the market is under pressure again. The overall trend is still maintained, and the decline has not dissipated. Therefore, it is not recommended to chase up blindly in the day, and it is more stable to short along the trend.
According to the short-cycle hourly chart, after the market failed to break the suppression area for many times, the current price is under pressure and comes out of a slight correction. In the upper five days, the 10-day moving average forms a short-term suppression near 1800.
If the price is broken in the follow-up, it is expected to test the suppression strength of 1610-1620 again. On the contrary, there is a risk of withdrawing the first-line support of 1550. I suggest friends and friends to make preparations in advance.
ETH operation strategy:
- Make short position when the price rebounds 1610-1620, stop-losses: 1637, target profit: 1580-1570
- If it breaks through the 1550-1560, Make long position, stop loss: 1535, and target profit at 1590-1600
The analysis is time-sensitive, and the posting is always delayed, so please take the real-time market as the standard. Re-emphasize, do a good job in risk control, no matter how well you judge the future market, you must control your stop loss and target profit!
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