The market is changing rapidly; trading is all about the present. Sing the song that fits the mountain you reach. Bitcoin's price once broke 86,000 from 84,000, and the price continues to test the critical node of 89,000 upwards. We can also see that Bitcoin has formed a huge daily golden cross, and the zero axis is about to be crossed, indicating that Bitcoin has tremendous rebound potential and even strong momentum that has yet to be released. Regarding this release of energy, we see a rocket rising steadily. It is possible that Bitcoin may experience a rise of about 30% in a day in the near future, and funds are continuously flowing into this state. The entire market has shown calm after a tumultuous wave. If it can break 88,000 or even 89,000 tomorrow or the day after, we will see this rocket about to ignite.
The price of gold is at 3,022. It was previously mentioned that this position forms a continuous selling opportunity. Ethereum has been fluctuating around 2,000 in this wave of the market without much change, but it has already formed a small golden cross at the lower position. Let’s see if this wave can break out with a stronger trend.
Bitcoin is definitely going to have a market wave, it’s either a reversal or a rebound, and an upward trend is an inevitable phenomenon. The market value of stablecoins is continuously evaporating and is still around 211 billion dollars. Bitcoin spot ETFs are seeing inflows, and the greed index has reached a neutral 45. In a few days, this greed index might appear again. Will it be able to break all doubts this time? Can the two months of adjustment come out from such a shadow? It indeed provides many opportunities for everyone. On March 28, the biggest pain point was around 85,000, with nearly 12 billion dollars in liquidation. Therefore, the upcoming market won't be slow and fluctuating like before; it may trend upward unilaterally. If you want to short next, you have to selectively go for short-term trades. The intraday liquidation position is quite strong around 84,000, and within seven days, there has been tens of billions in the range of 83,000 to 84,000. Now, many long positions have accumulated. Will there be a quick dip after this wave of rise to force all the bulls to get liquidated? There is also such a demand. Too many people are starting to go long, suddenly accumulating so many long positions, while there are very few short positions above. Overall, the price is showing an upward trend in major coins, slightly stabilizing the situation. It doesn’t mean that it’s truly rebounding; it’s just establishing a foothold. Currently, Bitcoin's total market value is at 58%, which has not yet reached the peak position of a bull market. We will observe if there can be such an overflow opportunity. Currently, the focus is still on trading Bitcoin, and when trading contracts, you must keep up with the rhythm of Wang Yun. That’s all for today.
