Daily Market Analysis in the Crypto World (3.30)
Summary:
Today, we need to discuss how the market is going to move, specifically the situation surrounding $BTC . I have divided the trends into two types, as shown in the image below. The first trend starts with a daily downtrend at 88700, with the internal first leg of 4 hours from 88700 to 81600. The second leg of 4 hours is based on last night’s low at 81600, which is the starting point for a rebound. The target levels above to focus on are fibo0.5/0.618/0.782. From the target levels, we will see the final 4-hour move targeting 80400. As long as the endpoint of this daily downtrend stays above 79900, everything is fine. Then, a new daily uptrend will kick in, with a target of seeing 90000-91000. The second trend indicates that if this daily downtrend breaks directly below 76500, it will complete the weekly pullback, and then a new daily uptrend will begin. Regardless of whether it is the first or second trend, the target for the second internal 4-hour move remains unchanged. Additionally, if you have positions that are currently at a loss, take the opportunity during the rebound to cut your losses. If you don’t understand what I’m saying, just take it as seeing 91000 is still possible above 80000. If it breaks below 80000, the probability of reaching new lows becomes very high. The key point is to watch whether 80000 can hold up.