Daily market analysis[20210310] - The mainstream currency has broken the previous high, can it be chased?
BTC
Today, Bitcoin's highest reached 55816.09, which once again broke through the rebound high since the beginning of March, and once again hit a record high of 58326.18, which is very good. During this period, it is also recommended for small partners to enter the venue many times. You can refer to it according to your own time of entry. The most recent time was the recommended buy after the market had a firm foothold on the 89th line. The current profit is still relatively generous.
However, the current market is not very friendly to the small partners who have not entered the market, because the current market is relatively embarrassing. First, if the market rushes up after entering the market, it will break through the historical high again by only about 7%. If we try to buy with the 89 line as the support level below, there will be a 10% drop. That is to say, the profit and loss ratio of the current entry is not even 1:1. It is a loss-making trade, so it is not recommended to enter the market. Yesterday’s recommendation was that the market must have a callback. You can only choose to enter the market when the callback is around 51260. Because the profit-loss ratio here is in line with our opening conditions, so the small partners who did not enter the market continue to look for opportunities to enter the market, and they have already entered. Friends in the field can just stay on the sidelines. The lower support area is 49086, and the upper no resistance area.
ETH
Ether has performed relatively well in the past few days, and the market has shown a more obvious smiling curve rise, and the current news is that the 89 line has stopped falling and flattened, and it may turn up. This is what we are happy to see. Today's market reached its peak at 1877.3, and there was a relatively large drop in volume. The decline of the current K-line is more than 6.3%, which is quite exaggerated. The large volume of trading shows that there are a lot of people who choose to sell here, but for our small partners who tried to enter the market with the 200 line as the support level, the impact is not great. We only need to make sure that the market can always Just stay above the 200 line. For those who have not entered the market, the current suggestion is to wait for the market to further pull back. It is better to enter the market when it pulls back to around 1781. Enter here, and take the 200 line as the bottom The profit-loss ratio of the support level is 1:3, which is in line with our entry conditions. The lower support area is 1582, and the upper no resistance area.
DOT
Polkadot performed well. It was also driven by the sharp fall in the currency circle this morning, but the current market has once again rushed to the top position, which is better. I also said before that Polkadot and LINK are similar, because Polkadot’s 89 line has no reference meaning, so we can only judge whether the subsequent trend can return to normal based on the second highest and second lowest, which is what we need. The market can only be considered for admission after the market can stand firmly at the previous high of 38.67. The current market is close to here, and small partners who want to enter the market need to keep their focus. Once the real hammer has stabilized, it needs to buy in time. The lower support area is 29.68 and the upper resistance area is 38.67.