Analysis of Ethereum Market in the Evening of March 16
The market value of cryptocurrencies plummeted 7% on Friday, the largest drop this year. Bitcoin plummeted 8%, and the market fell into panic.
The trigger for this plunge was the rise in U.S. PPI. Market expectations that the Federal Reserve would cut interest rates in May were dashed, causing investors to lose confidence and start taking profits. At the same time, investors in the derivatives market have also become cautious, and the financing interest rate of Bitcoin perpetual futures has dropped significantly. Futures tracking cryptocurrencies suffered losses of more than $800 million, the second-largest loss this year, according to data. US$660 million in long positions were liquidated, which may also be one of the reasons for the sharp decline in the currency market. Market analyst Dessislava Aubert said: "We have experienced a wave of long liquidations, which has intensified the selling." In this case, investors need to remain calm, analyze market trends rationally, and avoid blindly following the trend.
The current price of the pie is around 39400, and it tested to a low of 65500 yesterday. From the daily level, it has been negative for 3 consecutive days and then stepped back to the 21-day moving average, which is around 65500, and quickly rebounded upward.
At the hourly level, the trend line near 69 8 0 0 is blocked. There is a certain pressure at this position (as shown below). At the 30-minute level, the upper Bollinger track at 6 9 8 0 0 is under pressure. The RSI 9 daily moving average gradually shows signs of turning. Based on the above It is recommended that I personally think that it is more appropriate to focus on the upper altitude at present. Specific operations:
The pie is 69750-70000. Enter the field empty, the target is 68700-67800-65000, and the defense is 70600.
Ether 3770-3800 Enter the field empty, target 3680-3600, defense 3860
The above are purely personal predictions of market trends, so please use your own discretion. #热门话题 #BTC $BTC
