01

Cryptocurrency News Interpretation

At the main venue of the "2023 Hong Kong Web3 Carnival", Hong Kong Special Administrative Region Government Financial Secretary Paul Chan said in his opening speech that the development of Web3 should be viewed from the historical perspective of technological change. Technological change leads to business innovation, and business behavior will also drive better technological change. The Internet belongs to this kind of power of change. The rise of blockchain technology has brought the Internet into the Web3 era. Hong Kong will promote the sustainable and responsible development of the virtual asset market. Appropriate supervision is necessary to create a sustainable development space. Now is a golden opportunity for the development of Web3, and it is also a thrilling moment. Looking back at history, the development of Web3 will develop rapidly again after experiencing shocks. The glory of the next bull market will definitely belong to the East, and the East will definitely have several star projects. It will only be about a year before the next Bitcoin production cut.

Important news overview:

1. The leader of the Hong Kong Web3 Hub Foundation: has suggested that the HKMA issue digital Hong Kong dollars in the form of “stable currency”:

2. Trader Joe already supports permissionless liquidity pool creation;

3. El Salvador grants Bitfinex its first digital asset license;

4. Maple Finance plans to launch a U.S. Treasury bond lending pool:

5. France seeks alternatives to Internet giants dominating the metaverse;

6. MetaMask can access MetaMask Bridges through extensions;

7. Coinbase launched Flare (FLR);

8. Adidas releases Chapter 1: ALT[er] Ego

9.RSS3 completed a $10 million financing by selling tokens to DWFLabs.

02

Cryptocurrency Trading Tips

Mental training

The road of Yi is a road of learning. For everyone, failure is almost always caused by oneself. Since you want to survive in this market, you have to change your life frequency to follow the market. Few people are born to belong to the market, so to succeed, you must change!

Change all the wrong ideas and habits in the past, and continue to practice the correct behavior until it becomes your habit. Emotions will make people chase ups and downs, so you have to control it. "Human nature does not want people to easily admit losses, so you have to get used to the feeling of admitting losses." "Human nature is also unwilling to let people give up the existing book profits that have been realized, so you must overcome the idea of ​​'human nature is short-sighted and quick to profit'."

In financial transactions, facing the ups and downs of money, the ups and downs of the market, most traders lose their trading plans or rules, have nothing to rely on, and begin to unconsciously fall into random trading. Therefore, there are many famous sayings on Wall Street that talk about these phenomena, and many people are also studying trading psychology. "Plan your trades, trade your plans" is also a typical saying.

In fact, the discussion about trading mentality is an old topic. Friends who have had some trading experience should understand the impact of trading mentality on the "success or failure" of trading. At the beginning, many novice traders regard trading technology as the key to the success or failure of trading when entering the stock market. However, after a period of trading, they will find that due to many reasons of their own, we have no way to enforce trading discipline.

Knowing but not doing is just ignorance. This is from Wang Yangming, a thinker, educator, and military strategist in the Ming Dynasty. Wang Yangming is also known as the best warrior among the literati in the Ming Dynasty and one of the few perfect people in ancient and modern times. His theory of the unity of knowledge and action has a great influence on later generations. I like this simple and crude sentence the most: "Knowing but not doing is just ignorance." Some time ago, there was a very popular pretentious saying: "Knowing so many principles, but still not living a good life." If you understand Wang Yangming's words, you will know that no matter how much you study and understand, if you don't practice, you will end up being just a nerd.

03

Cryptocurrency market analysis

The US stock market has been falling for several consecutive days. This is a short-term support. If it can hold, it is estimated that it will be difficult for the big cake to fall. The interest rate is expected to increase by 25 basis points in May.

There are many disputes in the classification of the 30-minute trend. The central axis breakthrough and rise since 27783 have formed a complex adjustment. If it does not break through 30700~30900, it is not assumed that the large-scale rise has started. The point of distinguishing between accelerated rise and the end of short-term rise is 30700. 29180 is the short-term strength and weakness judgment point. If the price is above it, it is believed that there is still room for rise after consolidation. If it falls below it, it is believed that the adjustment has not ended and there is still room for decline. 29640 is the reference point for distinguishing continued rise and adjustment.

Operationally, short selling is not a wise choice, so buying on pullback or going long is still a better option.