Today's Market Snapshot:
Bitcoin: Yesterday, BTC retreated along with the US stock market, reaching a low of $81,000, in line with expected trends. With the expiration date approaching, if the bulls can hold $81,000, the short-term market volatility may be limited.
Ethereum: ETH rebounded after retesting $1,876 yesterday, forming a double bottom structure on the hourly chart. However, the volatility in the past 24 hours was less than 2%, still in a sideways consolidation. If it breaks above the $1,950 resistance today, it may further challenge the $2,000 level.
Altcoins:
The market focus today is undoubtedly CZ's avatar change, the BSC ecosystem is heating up, and on-chain projects are worth watching. BNB is expected to break above $700 in the short term, it is recommended to closely monitor the BSC dynamics and explore potential opportunities.
After last week's adjustment, the support line for Altcoins has emerged, which can be focused on as a risk guard line.
The public chain sector remains optimistic, EOS ecosystem and Ethereum mainnet upgrades and technological innovations are expected to drive growth. S performed well in February, although it has recently seen a significant correction, the strong support at 0.4 is worth focusing on.The highlight tonight! Tonight at 2 am, the FOMC meeting will be held, and Powell will deliver a speech at 2:30. Although the Fed will not cut rates this time, it will release the future interest rate dot plot, and the key is the expectation for future rate hikes. The market expects the Fed may increase the number of rate cuts this year from the 1 expected in December to 3, which would be bullish. If it's 2 rate cuts, it's barely acceptable, but if it's only 1 or no change, it would be bearish. In addition, there may also be an announcement to stop QT balance sheet reduction, which has a high probability and is worth watching.
A review of the on-chain meme market:
Watching the on-chain meme scene on BSC flourish, Sun has also joined the fray:
BSC prices have been halved, and Sun quickly jumped in! The TRX chain Meme $SZN, $BAN have exploded 20-200x, with multi-chain frenzy that's impossible to keep up with!
Currently, CZ's Twitter avatar has been changed, and the heat has returned to the BSC chain! Affected by CZ's avatar change, $mubarak has surged 28% in the short term, with a current market cap of $170 million, further consolidating its top position!
And CZ's new avatar has two contracts, requiring another extreme choice!
Little Miao chose the first one, thinking it can break out!
CA: 0x76344e59d311fd12dca5208021596c936204d24f
The on-chain meme pace in this market is too fast, couldn't keep up with the gains, but still got hit.
Only look at the short-term when playing MEME, never blindly believe!
- Better to earn less than get trapped! The MEME market cycle is extremely short, maintaining rationality in the midst of frenzy is the most difficult, and operations are easily affected by emotions.
- Doubling your money is an iron rule! Many people want to get the maximum profit, but greed is often the root cause of being trapped.
- The BSC MEME ecosystem has not formed a swarm effect, with limited liquidity. The over $100 million market cap $Mubarak is mainly supported by CZ, and there are only a few projects in the tens of millions, with most still hovering around a million market cap.
- There are no signs of a bull market in the macro market, and the liquidity is not as good as the SOL chain, the BSC mini-bull cycle has only lasted about a week.
Making money is the core, the key to cashing out is to seize the opportunity!
In the secondary market, I'm currently eyeing a few targets like CAKE, BNB, MUBARAK, when the on-chain is hot, it's not always possible to catch the meme coins, long BNB and TRX type of coins, you can still get some gains.
By the way, did the big brother see this wave of predictions this morning? The heat has been reignited.
The on-chain memes in the current market are really endless, the first wave of profits from this new CZ address has already been pocketed! Don't chase the pumps, here are 3 things to focus on next:
1. CZ will likely make a statement after changing his avatar, and there may be another wave of increase here! 2. Heyi will also likely change his avatar, and there will be an opportunity for a wave of increase here as well! 3. Mubarak will be listed on Binance spot, and this will also bring a wave of increase!
That's it for today's article, currently in a bull market, with turbulent developments, we have crypto updates to share every day.
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