Saturday, March 2, 2024, weekly commentary sharing and market outlook
Will the bull market start after this week's sharp rise?
As the year passes and the month comes to an end, people's lives get back on track, all the vacations they should take are taken, and the new year officially begins. February is over and March officially sets sail. Recall that at the end of 2022, the market once hovered around 16,000 for more than two months. At the beginning of 2023, the market once rose, reaching the 42,000 area by the end of the year. Now, at the beginning of the year, the currency price rose again, with the high reaching the 64,500 line. There is not much left to reach the historical high of 69,000. The four-year bull market is about to begin. The increase at the beginning of the year has reached 64,500, so it is bound to break a new high in the first year of Bitcoin. When the market is good, you must seize the opportunity. Otherwise, we have to wait for another reincarnation.
In the market situation at the beginning of the year, we also made considerable profits this week. At the beginning of the week, the market still saw a wide range of trends. We looked at the range fluctuations. After the market fell back, it shot straight higher. We took advantage of the trend and bullish all the way to the week. tail. At the end of the week, the market showed stagflation, so we changed our thinking and were bearish. However, we made the wrong move, and unfortunately we were swept away. In our overall layout this week, the advantages outweigh the disadvantages. This week, the pie received a total of 2753 points, and the ether received a total of 786 points. The big cake bamboo shoots are wet at 1063 points, and the etheric bamboo shoots are applied at 83 points. Unilateral quotations are also relatively simple to make. I believe everyone will have good gains in the second round of increases.
Returning to the current market situation, we can see that the price has been rising all the way on the weekly basis, and the rising trend of consecutive Yang has been relatively large. Stretching, the trend structure is also an obvious upward trend, so after the trend is confirmed, it is time to look for opportunities to participate. The daily line has now entered the correction stage after rising high. The rhythm is switching between long and short, and the trend is upward in a step-by-step manner. Therefore, in the short term, the market is expected to have a box appear to correct the market trend and continue to rise.
In my personal opinion, the trend of Bitcoin next week can be around 60000-58800. The long target is around 64000-65000.
In my personal opinion, the trend of Ethereum next week can be long around 3350-3300, with the target focusing on the 3500-3600 line.
