Bitcoin continues to be bullish after the pin is inserted, with a short-term target of 7.5w

The probability that the Federal Reserve will keep interest rates unchanged in March is 99%

Golden Finance reported that according to CME "Fed Watch", the Federal Reserve will maintain interest rates in the range of 5.25%-5.50% in March The probability of no change is 99.0%, and the probability of a 25 basis point interest rate cut is 1.0%. The probability of keeping interest rates unchanged by May is 86.1%, the probability of a cumulative 25 basis point interest rate cut is 13.7%, and the probability of a cumulative 50 basis point interest rate cut is 0.1%.

Analyst Willy Woo: Bitcoin’s daily inflows hit the highest level since 2021

Bitcoin analyst Willy Woo said that Bitcoin’s daily inflows have reached 2 billion US dollars, the highest level since 2021. This level is comparable to the previous bull market. Woo also predicted that as Bitcoin prices continue to reach new highs, capital inflows may increase further.

BlackRock Spot Bitcoin ETF IBIT currently holds 203,754 BTC

According to data updated by BlackRock on March 12, as Bitcoin (BTC ) rose to new highs, with BlackRock’s iShares Bitcoin ETF (IBIT) growing its assets under management (AUM) by nearly 50% in less than 10 days. Since U.S. SEC approval in January, IBIT has maintained its position as the largest spot Bitcoin ETF (excluding the converted Grayscale GBTC ETF). IBIT accumulated 203,754 BTC in less than three months, becoming the ETF with the highest Bitcoin holdings among newly approved funds.

##February 2024 is the month for the cryptocurrency market An unusually strong month, with total market capitalization up 40%. The U.S. Spot Bitcoin ETF, launched in January this year, has been a huge success so far and continues to attract capital inflows into the cryptocurrency market. Analysis of ETF flow data in February showed net capital inflows exceeded $4.9 billion, and Grayscale's capital outflows were significantly reduced compared to January. In the coming weeks, the market is expected to turn its focus to the possible launch of spot ETH ETFs, but whether they will be approved remains to be seen.

【Bitcoin 4-hour price trend analysis】

1. K-line pattern:

The recent K-line has shown large price fluctuations. At 00:00 on March 06, a negative line with a long upper shadow line appeared. Prices subsequently fell. From March 7th to March 14th, the overall trend showed a concussive upward trend, but there was no obvious continuous solid positive line or specific reversal pattern.

2. Technical indicators:

In the MACD indicator, DIF and DEA both cross at high levels, and the latest K-line MACD value is negative, indicating that there may be callback pressure in the short term. The KDJ indicator shows that the K value and D value are both in the overbought zone above 80, and the J value is also relatively high, suggesting that the market may be overheated and that we need to be alert to the risk of a correction.

EMA7 is currently above EMA30, and the gap between the two is gradually widening, indicating that the short-term trend is improving, but attention should be paid to whether EMA7 will show signs of turning downward.

3. Trading volume:

From the perspective of trading volume, when the price fluctuates significantly, the trading volume increases, such as at 00:00 on March 6 and 20:00 on March 13. This Usually means market sentiment is positive.

The trading volume in recent cycles has been relatively stable, and the absence of abnormal volume indicates that the current price trend is not driven by emergencies.

【Buy and sell point】

Buying point one: 72000 USDT (EMA7 is currently above EMA30, and the short-term trend is good. If the price pulls back here, it may be Better long opportunity)

Buy point 2: 71000 USDT (The recent K-line has shown support near this price. If you further drop to this price, you can consider adding a position) Long stop loss point: 70500 USDT (two below the buy point and leaving some space to avoid unnecessary stop loss caused by market fluctuations)

Selling point one: 73500 USDT (recent high point area, if the price rebounds here, it may face pressure, suitable for partial lightening)

Selling point two: 74000 USDT (close to the highest price in the latest cycle If the price can break through, it may usher in greater gains, but you also need to be wary of the risk of callbacks) Short-selling stop loss point: 74500 USDT (two times higher than the selling point, which is a conservative strategy to prevent continued upward movement after the breakthrough and greater losses)

The four-hour market changes very quickly. In the short-term, you should close when you see good results. Don’t let yourself be trapped because of greed. What is important in the short-term is capital utilization, so you must be willing to stop profits and dare to stop losses, otherwise you will lose it. The meaning of short-term.

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