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3.16 Monday - Mufeng Morning Market Analysis
Good morning everyone, a new week of market action begins. After the weekend consolidation, Bitcoin has stabilized at the 70,300 support level and rebounded, with an early high breaking through the 73,000 mark.
Currently, it is oscillating around 72,800 at a high level, with intense market fluctuations and a clear main force washout pattern. The hourly chart has broken through the upper band and is in a strong upward channel, with a clear medium-term uptrend. For early trading, it is recommended to buy on dips.
Monday Morning Strategy:
Bitcoin: Buy near 72,500–72,000, target 73,600–74,400
Ethereum: Buy near 2,170–2,140, target 2,220–2,260