From a daily chart perspective, Bitcoin has pulled back from its high and continues to consolidate above 72,000, operating within a converging wedge pattern overall. Short-term upward momentum has slowed somewhat, with bulls and bears reaching a phase of stalemate.
In terms of volume, the OBV indicator shows continuous moderate volume expansion, with bullish forces gradually accumulating strength in preparation for subsequent upside breakouts. If the market can effectively hold and break through the upper resistance of the wedge in the near term, it is expected to open a new round of upside space, challenging the key resistance zone of 78,000-79,000 from earlier.
Trading Strategy
Bitcoin: Accumulate long positions in the 71,500-72,000 range, targets looking toward 75,000 Ethereum: Accumulate long positions in the 2,200-2,220 range, targets looking toward 2,360
Mu Feng · 3.18 Wednesday Evening Market Analysis
From a daily chart perspective, Bitcoin has pulled back from its high and continues to consolidate above 72,000, operating within a converging wedge pattern overall. Short-term upward momentum has slowed somewhat, with bulls and bears reaching a phase of stalemate.
In terms of volume, the OBV indicator shows continuous moderate volume expansion, with bullish forces gradually accumulating strength in preparation for subsequent upside breakouts. If the market can effectively hold and break through the upper resistance of the wedge in the near term, it is expected to open a new round of upside space, challenging the key resistance zone of 78,000-79,000 from earlier.
Trading Strategy
Bitcoin: Accumulate long positions in the 71,500-72,000 range, targets looking toward 75,000
Ethereum: Accumulate long positions in the 2,200-2,220 range, targets looking toward 2,360