BTC market trend analysis on the evening of March 28:
1. The pin insertion tonight scared many friends. In fact, as long as it does not fall below the key support of 68500, it will not go to the next box.
2. The market is still preparing to break through to new highs and accumulate strength. An upward breakthrough is a high probability. Do not go short (make more copycats).
3. Analysis of yesterday’s BTC data, interesting points:
Data on the a chain: the 24-hour long-short ratio is 50.82%/49.18%, which is currently basically 55. Opportunities: BTC balances are falling on all exchanges, including Coinbase, are scrambling for chips,
b Institutional data: Net inflow of ETF on the 26th: $225.94M, while yesterday it was only 15.70M. At the same time, Hong Kong should launch ETF soon. ChinaAMC and Harvest have both applied. They are equivalent to the roles of BlackRock and Fidelity, and Hashkey is Coinbase.
c. Buying sentiment: BTC holding prices between US$69,000 and US$70,500 are the main force changing hands. The petty bourgeoisie holders mentioned earlier (0.1-0.5) have less sales, and the current price cannot satisfy their income.
Summarize:
1. Institutions began to reverse last week’s net outflows, and U.S. investors began to buy frantically.
2. The overall structure is still bullish. Whenever the exchange reserve decreases, it means that the bull market has bottomed out.
PS: So we are looking forward to the arrival of new highs, but at the same time, we must also make plans to prevent the risk of pin insertion. #BTC
