CryptoExplorers says
The two-day market reminded the madman of the wave at the end of July 2020. At that time, Bitcoin continued to trade sideways and did not break through. In the end, Ethereum took the lead and pulled up a bunch of mainstream coins. Three days later, The pie entered the cycle of supplementary growth. However, from the perspective of strength, the current pull of mainstream currencies is still very different from that at the end of July. Therefore, even if the market is supplemented by Bitcoin, the magnitude will certainly be less than the start of the wave at the end of July.
The CryptoExplorers believes that the starting point of this round of Bitcoin may be April 4-6. You can consider buying some at this stage every callback. Maybe the $70-80,000 of Bitcoin will come soon, after all, it will only be 20% only.
Now major exchanges have opened grid trading. The so-called grid trading means increasing or lightening up positions at support or pressure levels. For example, if you think Bitcoin will fluctuate in the range of 30,000 to 80,000, your grid trading is just The position will be dynamically adjusted when the position is 30,000 full and 80,000 short. So you can see a phenomenon in the recent market. As long as it bursts, it will be smashed back, and as long as it slumped, it will be pulled back. This is the grid single strategy at work. Grid, will form a synergistic force for this shocking market. But such shocks will be destroyed sooner or later, but it takes more time to digest these grids.
Paris Hilton, the heir to the Hilton Hotel and well-known American artist, changed her Twitter profile to "Laser Eye", indicating that she would join the Bitcoin family. At the same time, she also mentioned that Bitcoin is definitely the future. It is really gratifying to join another influential general.
Bitcoin researcher Boyapati believes that when everyone thinks that Bitcoin should become the world's currency, it is the final stage of Bitcoin. CryptoExplorers think this point of view is very reasonable, perhaps the last apex of Bitcoin will really be the consensus of all mankind, because everyone thinks that this is the future after learning Bitcoin. When everyone is no longer short on Bitcoin, the Bitcoin feast is truly over. Maybe it will take a long time to reach the peak.
This week, hedge funds bought bullish Bitcoin option products, which means that most hedge funds are optimistic about Bitcoin in April, and there is a high probability that it will not be a short hedge. As a hedge fund, there is no shorting logic under this macro background.
The U.S. non-agricultural employment increased by 916,000 in March, better than market expectations, and the largest increase since August last year, indicating that the U.S. job market has gradually emerged from the haze of the epidemic. This will increase the Fed’s tightening expectations behind it and contribute to the formation of an anti-inflation market. Certainly shock.
NFT weekly trading volume is steadily declining, and it continued to fall after reaching a high on February 21. The largest NFT platform, NBA Topshot, currently only accounts for 12% of its peak trading volume, indicating that the bubble is coming and going quickly. Don't go to this section to be a picker.
Market analysis
Bitcoin:
Since Bitcoin has crossed around 60,000, and the strong mainstream currency has gradually begun to hit historical highs, it means that the probability of Bitcoin making up new highs in the future is quite high. Therefore, CryptoExplorers still recommend holding coins or increasing positions, and be patient. Waiting for the start of a new round of quotations.
ETH:
After hitting a new historical high, there is no obvious selling pressure, and the trend is relatively healthy. The market outlook is expected to continue to rise along the 5-day line.
DOT:
Polkadot did not fall, and a big Yang line caught up with Ethereum, indicating that the overall situation is still very strong.
XRP:
Hold the ones you previously held. Although slow, the short-term risks are relatively low.
LINK:
The trend is OK, hold first.
BSV:
I pulled a wave yesterday, but it didn't last today. I stared at the 5-day line (currently 228), and held it before it broke below.
ADA:
High shocks, wait patiently for opportunities.
EOS:
I went straight up today without a callback, and I was a bit anxious. I have to wait for the 5th line to move up in the short term.
TRX:
Still in the upward trend, if there are coins, you can hold them first, and don’t participate if they don’t. You can pull 1-2 at most later.
XMR:
Concussion upward.
FIL:
There will be rebound demand in the short term, patience and so on.
UNI:
The linkage moves higher, while SUSHI is relatively weak because of the unlocking.
Wait, see if this time is similar to the wave at the end of July. If the trend is similar, the increase (percentage) must not be as sharp as in July. After all, the Bitcoin ship is getting bigger and bigger, and more stability will be an inevitable event.
That's it for today, I wish you all a happy weekend, see you tomorrow.
