First, the macroeconomic situation has a direct impact on the price of Bitcoin. Rising global inflation expectations have led investors to seek assets to hedge inflation risks, and Bitcoin, as a decentralized and scarce digital asset, has been favored by more investors. In addition, specific geopolitical events and macro policy adjustments have also had a certain degree of impact on the price trend of Bitcoin.
Secondly, the trend of the global financial market also has an important impact on the price of Bitcoin. Recently, the volatility of the global stock market and the fluctuation of the US dollar exchange rate have driven the fluctuation of Bitcoin prices to a certain extent. In particular, the increased recognition of Bitcoin by some institutional investors has provided certain support for the price of Bitcoin.
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2024.3.11 Bitcoin (BTC) market analysis reference
In general, although the price of Bitcoin has certain volatility, the overall trend is stable and rising. Investors need to pay attention to changes in the global macroeconomic situation, trends in the financial market, and fluctuations in the emotions of market participants in order to more accurately grasp the trend of Bitcoin prices.
From the technical point of view, we can see that the opening price of the big cake today plunged to the lowest position of 66900, and did not touch the EMA10 support point below. The K line is temporarily in a hammer state, and then it continues to stretch upward to test the possibility of 70000. The MACD volume begins to reduce the K line divergence and stretching. The DIF and DEA are obviously closing, and the signal given by the KDJ indicator is not very clear, resulting in the current market being in a very repairing stage. The difference between the long and short positions of the Bollinger Bands has become larger, and the high pressure has reached 74000 and the low support has reached 48000. Long-term investors can pay attention to it, but there is no need to pay attention to it in the short term.
The 4-hour K-line tested the bottom support of 66900 and then stretched to the middle track support of 68500 of the Bollinger Band. The short-term bullish trend is obvious. Pay attention to the pressure level of 69800. The KDJ downward indicator has reached the interface. MACD has shrunk and increased. DIF and DEA are at high levels and downward. Currently, only EMA10 and 15 are in the K-line consolidation range. In the short term, the market will go back and forth between 67500 and 70300. The idea is to focus on high-altitude and supplement low-long.
2024.3.11 Ethereum (ETH) market analysis reference
First of all, the continued popularity of the Defi market has provided important support for the price of Ethereum. As one of the most important infrastructures of the Defi ecosystem, Ethereum has benefited from the rapid growth of the Defi market. The development of various Defi projects has increased the usage rate and transaction activity of Ethereum, which in turn supported the steady rise in the price of Ethereum.
Secondly, the development of Layer 2 solutions has also become one of the important factors in the rise of Ethereum prices. As the congestion problem of the Ethereum network becomes more prominent, the development of Layer 2 solutions has become the focus of market attention. The application of Layer 2 solutions can effectively improve the throughput and transaction speed of the Ethereum network, thereby improving user experience and promoting the healthy development of the Ethereum ecosystem.
From the technical point of view, we can see that Ethereum plunged after opening today, hitting the lower EMA10 support point of 3725. The overall trend is still in the rising channel, but the MACD volume has begun to decrease, and the main force has begun to sell. The overall trend is weak, and the KDJ crosses downward. Operators need to be cautious. The Bollinger Band K line has left the upper track and is trading sideways. The midline focuses on the upper pressure levels of 4000 and 4115, and the lower support focuses on 33600 and 3300.
In terms of short-term operation, the current trend of the 4-hour K-line moving average EMA begins to alternate downward. In the short term, if it does not break 3900, it will continue to consolidate downward to find a support point. Pay attention to the moving average support 3770 below. MACD shrinks and increases, and KDJ is blocked from closing upward. In addition, the K-line fell below the lower track of the 4-hour Bollinger Band at the opening of the morning. The first support of 3850 has been broken. The idea is to focus on high-altitude and low-multiple. Pay attention to the 3900 and 3910 ranges above, and the 3750 and 3700 positions below.
It is strictly forbidden to operate with heavy positions. Risk control is the first priority. The market changes rapidly. Don't be greedy. Specific operations are mainly based on real-time strategies, and analysis is mainly for reference. Risks are borne by yourself.
