Share the current market analysis.

Weekly:

Last week closed with a small doji candle on low volume, indicating a balance between bulls and bears. This week, many are waiting and watching, with no significant trading volume and no clear signs of a bottom. It can only be said that the market will continue to oscillate within the range of 108364-89865, as it is near the lower support level, which is not easy to break. Therefore, we should observe whether a bottoming signal appears within this range.

Daily:

Since the bottoming on the 2nd and 3rd, the market has been in a small oscillation range for two weeks. During this time, several bottoming signals were recorded, but the overall volume comparison is not very strong, so it may continue to oscillate. This morning's closing shows a bearish pattern, but the bearish volume is relatively weak, and the lower part is also an important support level, waiting for more candlesticks to develop.

Summary:

The background of the weekly level is in the mid-term bull market, currently in a consolidation phase after an upward trend, with no clear bottoming signals yet, so it is likely to continue to maintain an oscillating consolidation market.

The daily level is still in a consolidation phase after the upward trend, overall remaining above the trend line, so the lower support level is relatively strong, waiting for clear bottoming signals to appear to increase the strength of the bulls.

Compared to the weekly chart of Bitcoin, Ethereum and most altcoins have closed well this week. Ethereum recorded a bullish engulfing bottoming signal, indicating that the market is beginning to enter a consolidation phase. Most altcoins also recorded bottoming signals, with weaker ones showing a bullish engulfing or doji pattern, while stronger ones displayed a piercing pattern. However, the bottoming volume is relatively weak, so it may continue to oscillate, with some stronger coins reacting earlier.

Many people hold a pessimistic view on the liquidity aspect of the March interest rate cut, which might be a good thing. This is because there are many factors that affect the market, including policy, fundamentals, news, etc. The overall trend background has not been broken, so holding spot patiently is sufficient.