In the past 24 hours, 77,944 people worldwide have been liquidated, with a total liquidation amount of $173 million. BTC continues to demonstrate remarkable resilience, fluctuating wildly between 70,000 and 71,800. Lowering profit expectations, trading BTC/ETH remains a viable strategy. Consider strategically allocating some altcoins in the spot market and patiently waiting for the right opportunity.
Pullbacks will provide opportunities to buy more; just be patient and stick to your strategies based on different timeframes. This week, focus on FIL/SUI/SSV; you can refer to previous analyses and consider placing some spot orders.
BTC closed with a bullish candlestick with an upper green candle in the morning, indicating that BTC is consolidating at a high level and is fluctuating within a wide range of 71,600-68,800.
Yesterday, after forming the neckline of the head and shoulders bottom pattern (72000), the price quickly fell back below 71000. The selling pressure above is still quite heavy. From a time cycle perspective, a collapse is likely to occur within the next week or two. Don't be misled by short-term illusions.
1) The upper resistance level of 72600 and the 4-hour bearish OB (73300-74800) are both short positions.
2) 69000 is the dividing line between bullish and bearish trends. If it is higher than this level, there is still room for a rebound, but if it is lower than this level, a decline will officially begin.
ETH
The short-term price of Eth just touched the neckline, but failed to break through and was pushed down. The selling pressure above is quite heavy, and it is estimated that a pullback is needed to further digest the selling pressure. Therefore, we need to pay attention to the right shoulder low below. If it does not break down, there is still a chance for a rebound.
(1) Pay attention to the resistance levels at 2200 and 2300, as these are the key levels to watch in the high-altitude region.
(2) The support level to watch is 2100. If 2100 is breached, it is not advisable to go long. You can consider shorting instead. The support levels to watch are 2050 and 2000.
Copycat
The entire secondary market was screened based on the following criteria: coins whose daily EMA24 crossed above EMA52 and entered a bullish trend. Only 12 coins were selected. After deducting PI and TRX, only 10 coins remained. Of these 10, 7 were in the AI sector.
$TAO, $RENDER, $NEAR, FET, GRASS, PHA, and SAHARA—AI accounts for 70% of the market. The AI sector is a key area I've repeatedly emphasized this year, and it's worth focusing on.
PRL
The AI sector is currently facing a severe shortage of high-quality data. The Perle team, having left the giant Scale AI, is entering the market with real clients and real revenue.
Beta Alpha just launched, and now Coinbase's spot and futures markets are following suit, with very strong capital inflows. Currently, the circulating supply is only around 30 million, with a full circulating valuation of just over 200 million. Compared to its peers with valuations often in the billions, this market capitalization is ridiculously low. With a little push from investors, it could easily go up. The first wave of sentiment-driven gains has already occurred; let's watch for support around the 0.168 level!
ZEC
ZEC remains in a downtrend; the rebound that began on March 22nd was a minor one. The rebound is expected to end as early as the end of this month or early April, with ZEC resuming its decline. The red and blue lines in the chart differ only in their minor timeframes. A continued decline/sideways movement until the end of the month would essentially confirm the blue line, while a break above 247.7 would confirm the red line. Even if the red line is followed, it won't change the overall downtrend of ZEC.
Therefore, I believe we will have a good short opportunity for ZEC in the near future, as the drop is quite substantial and the risk-reward ratio is good.
M
M has recently surged 50%, currently boasting a market capitalization of 4.7 billion. It's a typical high-market-cap, highly controlled "air coin"—100% controlled by the holders. Its 24-hour trading volume is only a few million. Contract trading is a gambler's game; it can manipulate prices to any level and then plummet to zero when it wants to exit. Aside from not taking any positions myself, I'm purely a gambler on contracts. I'm taking small short positions in batches around 2.5-2.9! Waiting for the crash!
