3.6 Early Morning Market Analysis!

Brothers, last night, the main reason for the market rebound these two days is the White House cryptocurrency summit on March 7, which mainly discusses some topics regarding Bitcoin as a strategic reserve and related legislation. Therefore, the market will release some news in advance to bet on the results of the summit. This news is generally positive for the crypto circle, so the bullish sentiment will be relatively high before March 7. In terms of operations, I still recommend that you guys buy on the dips before March 7, as long as it doesn't drop below 82000, we will look for a rebound.

On the technical side, Bitcoin has currently broken through the daily resistance of 88600. As long as the daily line can stabilize at 88600 tomorrow, the market will experience a daily-level rebound. During the night, just pay attention to the support at 86500; as long as it doesn't drop below this support on the pullback, we are looking for a rebound. The resistance for the rebound is at 90800-92500-94500. Consider short positions at least near 94500. Aggressive long positions can be attempted in the range of 85000-86000, with a good stop-loss in place. If it gets stopped out, you can continue to try around 82500, with a stop-loss at 82000.

The rise and fall of the altcoin has been quite significant. First, look for the support at 2150; as long as this support holds, we will continue to look for a rebound. The rebound resistance is at 2270-2360. Only if the four-hour closing price drops below 2150 will this rebound be considered over. The lower support levels to watch are 2070-2000, where long positions can continue to be monitored in this range.