A new week has begun, and the cruel reality of the crypto is that it shows no mercy to those who hesitate, only favoring the prepared. Last week's volatile decline was simply a shakeout. This week's rally may well be the start of takeoff.
Instead of constantly asking when the bull market will arrive, ask yourself if you understand the market better today than you did yesterday. Keep learning, diversify your risk management, and maintain a long-term mindset.
The golden age of digital assets belongs to those who persevered through the harsh winter. Happy new week! May your positions remain stable, your mindset turn positive, and may you achieve financial freedom soon!
In the past 24 hours, a total of 92,981 people across the internet have had their positions liquidated, with a total liquidation amount of $348 million. Long positions were liquidated for $242 million, and short positions for $106 million.
BTC
After a brief period of consolidation, Bitcoin experienced a rapid dip, breaking below 65,000 before quickly recovering. This indicates strong buying pressure and suggests a potential bottoming out, making a short-term rebound more probable. 65,000 is a key support level; if it holds, a rebound is likely, forming a continuation pattern within the downtrend.
I plan to wait for a minor double bottom before placing long orders in the 65,500 to 66,000 range. The initial resistance level is 68,000 to 68,700; if it fails to break through, it will likely fall back. The market still needs a double bottom confirmation.
ETH
After a period of volatility, Ethereum quickly dipped to around 1935, which was exactly where I expected this morning. The price has since recovered, indicating strong support here. A rebound is highly likely in the short term, and I have already placed long orders in batches.
The market is currently rebounding on a smaller scale. The key resistance level to watch is 2070-2090. If the price reaches this level and forms a long upper shadow, it will likely pull back again.
These are the cryptocurrencies and events to watch this week:
ETH: Europe's largest Ethereum conference opens on March 30.
$JUP: Jupiter is launching a new term loan agreement called Offerbook.
SUSHI: Sushiswap launched perpetual contracts on April 2nd.
FTT: FTX will pay $2.2 billion to its creditors on March 31.
BASED: Based on Hyperliquid technology, a decentralized exchange called Based, will launch its token on March 30th.
Macroeconomic events: Trump may consider ground operations in Iraq, and Federal Reserve Chairman Powell is scheduled to speak tomorrow.
Variational: There will be a big announcement soon.
SNX: Synthetix launched multi-collateral trading functionality in April.
CHZ
I plan to hold this long position in CHZ for a while, and I've already set a stop-loss at breakeven. The short-term trend is quite strong, mainly due to the anticipation of the "Century Cup" positive news.
The price is currently encountering a significant resistance level on the daily chart. However, the smaller timeframe shows a bullish wedge pattern, suggesting that the price will likely consolidate and digest selling pressure before continuing its upward trend.
NOM
The price surged immediately after Monday's close, most likely due to aggressive manipulation by South Korean funds, given the coin's investment background as the founder of LUNA. After being renamed NOM, its market capitalization jumped from a few million to tens of millions, potentially indicating another short squeeze and price surge.
However, don't blindly chase the trend; getting trapped is easy. With the World Cup approaching, various established football-themed cryptocurrencies are starting to stir. In comparison, investing in this sector would be a safer bet.
BSC's "on-chain meme meme" warns: if a new company's market value doesn't stabilize, never jump on the bandwagon for the second phase. No matter whose concept it is, it won't work. If it falls, it's a bottomless pit!
The first sister's new scheme, $Thereisnospoon, only had a little over 600,000 ATH tokens. I thought it could stabilize around 300,000 and then break through to a new high, but it just plummeted. Even the tweets from the second saint are unreliable.
In contrast, $爱呜呜 looks much more reassuring. Although it has only doubled its money so far, the K-line has been quite stable after breaking 1 million, and the market value has been slowly increasing, indicating that the community is gradually building up. Let's see how it reaches 2 million first.
