3.24 BTC/ETH Market Analysis:
The market experienced a pullback yesterday after a rally driven by chart analysis, followed by Iran's denial of earlier reports. Currently, the market is in narrow range consolidation, still digesting the impact of the news. Yesterday's news also caused massive retail liquidations, so the current volatility is limited with most participants remaining cautious.
Bitcoin daily chart shows a large bullish candlestick, with price currently holding above the Bollinger Band midline support. KDJ and RSI are turning upward with widening mouths, while MACD bearish momentum continues to contract. Be cautious of the market rallying on news and liquidating short positions. On the 4-hour level, if price breaks below the midline support at 69500, the upside risk will end and the market can continue lower to test support at 68000 and 65000. Currently at around 70600, chasing longs here is not suitable, nor is shorting here appropriate. This is a middle position—it can go either way. Remain observant for now!
For those looking to short at higher levels, monitor the upper resistance at 72500 and 73500 intraday. For shorting, observe the pressure here to see if it's worth participating. Alternatively, if price effectively breaks below lower support at 69000, consider shorting, targeting support levels at 68000, 67000, and 65000.
For those wanting to go long at lower levels, pay attention to support around 69500 and 69700. If pullbacks test here without breaking, consider participating in short-term longs, targeting upper resistance at 71500, 72500, and 73500.
Regarding Ethereum, monitor upper resistance at 2250 and 2300. If bounce tests prove effective here, consider shorting around this level. For lower support, watch the 4-hour midline support near 2110. If this level holds on pullback, consider betting on a bounce, monitoring resistance at 2200, 2250, and 2300 above. If it breaks, the bounce ends and pursue shorting with next support at 2050 and the 2000 round number level.
No one knows exactly which resistance level will cap the market, just as no one knows where support will hold and trigger a bounce. The significance of resistance and support levels is that when price approaches these areas, you should pay attention to see if you can short based on rejection. Each trade is an exploration, so positions should be built gradually in batches. Every single position carries liquidation risk—profits and risks always coexist. If you always want to decide everything in one trade, bet it all, Macau might be more suitable; after all, it has charming spas…#成长值抽奖赢金条 $BTC
