Pal Daily Market Brief - #BTC 3.13

1. Global trade tensions escalate, putting pressure on market sentiment, with a new round of tariffs potentially implemented on April 2. The 25% tariffs on steel and aluminum that take effect today have prompted a countermeasure from the EU, which plans to implement €26 billion (£22 billion) in tariffs starting in April.

2. Cryptocurrency market dynamics: The SEC has postponed the approval of XRP, SOL, LTC, ADA, and DOGE ETFs until May and will hold a cryptocurrency regulatory roundtable on March 21 to discuss the classification and regulatory framework for crypto assets.

3. Bitcoin ETF sees a net outflow of $154 million, with GBTC selling 641 BTC (worth $56.45 million) in a single day, indicating a growing cautious sentiment among institutional investors.

4. Russian banks allow investors to purchase cryptocurrency on a "limited" basis.

1. BTC

Daily Chart

1) The SSL liquidity at 785 has been siphoned off, and it remains in a downtrend; I don't know where it will drop to, and I don't want to panic.

2) My expected target has always been to look at the OB position; I have always said long-term players can slowly buy between 78,000 and 68,000, and those who dollar-cost average can also start investing.

3) Last night's CPI news siphoned off MH liquidity upwards; here we need to see if it can stabilize and continue upwards to test the 87 BSL and 90 bearish OB.

4) If it can't stabilize, then it will continue to oscillate around the weekly range.

H1 Chart

1) Currently, H1 is experiencing oscillating upward movement; yesterday's morning report mentioned that around 805 is a buy point. I don't know if you all bought in yesterday.

2) Currently, I believe the market is building bearish liquidity around 84; those opening shorts around 84 are just waiting to be liquidated. For us, a pullback remains a buying opportunity.

3) Pay attention to the H1 bullish OB around 82 for accumulation buying on the pullback.

4) But note that there is an EQL at 806, so it’s necessary to confirm opening orders to prevent being siphoned off.