The bullish factors of the new bull market, including the Bitcoin mining reward halving theme, the widespread adoption of encrypted assets, and the regulatory crackdown on the cryptocurrency industry, are actually beneficial to Bitcoin. This reason, together with the halving of Bitcoin rewards and the outbreak of the Ordinals ecology, are all factors that make Bitcoin Bullish. Ordinals is a protocol that expands the use of the Bitcoin blockchain. Recently, the daily transaction volume of Bitcoin has been increasing. Bitcoin halving is a technical event that occurs every four years. The next one is expected to be in April 2024. occur, which may push up the price of Bitcoin by strengthening the scarcity of Bitcoin. Although the painful period of the cryptocurrency industry is not over yet, it is believed that the market has shown signs of bottoming out. Almost all bad leverage has been squeezed out. Shorting Bitcoin, remortgaging Bitcoin, and lending Bitcoin out, these people have all declared bankruptcy. The remaining exchanges that can still be shorted have encountered a lot of regulatory pressure.
Then Lao Zhao will analyze the current market for everyone:
So far, the BTC quote is around 26464, the ETH quote is around 1803, and the LTC quote is around 87. Bitcoin once fell from the highest around 26650 to around 25962 yesterday, forming a long lower shadow line and then rebounded to the current 26464 for a consolidation. Looking at the daily line, the current price continues to remain above the MA120 daily moving average, indicating that 26200-26000 is still an important watershed. As long as the range does not break, it is still a bullish trend. On the contrary, if the physical k-line crosses the range of 26200-26000, the trend will change from bullish to bullish. to empty. ETH is linked to the BTC market, and the daily k-level MA120 moving average focuses on the price range of 1760-1730. As long as the daily k-level entity does not fall below this range, it is still bullish. Otherwise, the trend will turn from long to short if it falls below this price range. The reason why LTC’s recent popularity has not decreased but has increased is that it is about to cut production, but brothers should still remember the previous few production cuts. History may not repeat itself, but it is always surprisingly similar. It is found on the daily K that now LTC as a whole is still in a downward trend, and is severely suppressed by the MA30 daily moving average. If you want to enjoy a wave of dividends in the production cut market, Lao Zhao here suggests that you should not rush to enter the market blindly, and wait!
The hottest topics at the moment are nothing more than the Fed’s debt crisis and the Hong Kong sector. What Lao Zhao wants to remind brothers is that heat is heat after all, and once the heat passes, it will eventually return to its original shape. It is recommended to hold the Hong Kong sector in batches Take profit and wait for the next round of sector explosion! Suggestions for intraday operation points: BTC: Enter more orders around 26200-26000, stop loss below 25700! The target location is near 26500! Enter empty orders near 26500-26700, stop loss above 27000! The target location is near 26000! ETH: Enter more orders around 1750-1760, stop loss below 1730! Near the target location 1815! Enter empty orders around 1810-1820, stop loss above 1830! Near the target location 1760!
I am the old Zhao that everyone is familiar with. If you like my point of view, you can add me on Weibo: Banbi Jiangshan Zhao Zhongjun to discuss together (reply 888 in the group)
