BTC:
Last night, due to the continuous thunderstorms at SVB Bank, the risk aversion in the market intensified, and gold, Bitcoin, etc. rose one after another. Yesterday, we clearly stated in the analysis that the 4-hour level support position has been confirmed. If it can effectively stand near 23800 position, then the subsequent strong rebound will continue. From a macro level, there is currently only one regulatory policy release that is negative, so for the crypto market, there is not much negative news. We have basically experienced all the negative news in the past year, and the bottom of the market is nothing more than this. can not be lower. From a micro level, the continuous thunderstorms will make many people rethink what is real money and what is truly their own money. Clearly the money you have in the bank is not necessarily yours, no matter how strong the endorsement. So as time goes by, I believe everyone will have more different thoughts and recognitions about Bitcoin. At the 4-hour level, the market has recovered from the downward sentiment on February 24. The current 4-hour level has returned to the trend of rebounding. The first resistance above is near 28,300, and the strong resistance is near 38,000.
ETH:
Ethereum is completely following the market this time. Bitcoin has risen by more than 10% in 24 hours, while Ethereum has only a fraction of Bitcoin. In fact, this shows a problem. This rebound is definitely due to the entry of funds from outside the circle. It can be seen that Bitcoin is still far better than ETH in terms of the recognition of funds from outside the circle. Of course, this may be related to Ethereum's conversion to POS. After all, the SEC still considers ETH to be a security. In the eyes of traditional capital, ETH may not be as safe as BTC. This is why BTC is stronger than ETH in this rebound. However, Ethereum has its own unique features. Ethereum's platform attributes are stronger. Even Bitcoin's recently popular NFT still uses Ethereum for transactions. Therefore, Bitcoin cannot compare with Ethereum in terms of ease of use and creativity. In addition, Ethereum will have an important Shanghai upgrade in March and April. At that time, the possibility of speculation is very high. Therefore, I suggest that you can take advantage of this wave of Bitcoin rebounding quickly to switch positions to Ethereum to keep the opportunity to eat both ends.
