Market Analysis for March 10, 2025

Bitcoin Weekly

Resistance Level: Around 88000

Support Level: Around 73000

Bitcoin Daily

Resistance Level: Around 84000

Support Level: Around 80000

Bitcoin was relatively stable during the day yesterday, but it experienced another pullback at night. The weekly chart has directly broken below the life line at around 85000. The first resistance level for this week is set around 85000, and the second resistance level is set around 88000. The trading strategy is to short at highs; as soon as it approaches the resistance level, a short position can be opened. The first short position shouldn't be too large. Overall, Bitcoin is still in a trend of oscillating downwards. With the weekly chart breaking below the life line, it is still quite dangerous. The support level for this week is set around 73000. Last night, Bitcoin had a volatility exceeding 7%, which was beyond expectations. Today, there may be a rebound during the day, but it depends on the strength of the rebound. Today's resistance level is set around 84000, and the support level is set around 80000. If there is a profit, remember to take it and not be greedy, especially for long positions. You must enter and exit quickly; if you are a bit greedy with long positions, you may get trapped. Wishing everyone a prosperous start on Monday.

Ethereum Weekly

Resistance Level: Around 2580

Support Level: Around 1700

Ethereum Daily

Resistance Level: Around 2150

Support Level: Around 1950

Yesterday, Ethereum once again fell and retraced to around 2000, breaking below the EMA120 line on the weekly chart, which is a dangerous signal, mainly influenced by Bitcoin. The resistance level for this week is set around 2580, which is also near the 120-day line. When it reaches this level, it can continue to short. The support level is set around 1700. Ethereum will still follow Bitcoin's trend. If Bitcoin breaks below 80000, Ethereum could also break below 2000 at any time. Today's resistance level is set around 2150, and the support level is set around 1950. Ethereum is also in a trend of oscillating downwards. Recently, many long positions have been liquidated, and March is likely to be quite tough, so prepare yourself mentally! The trading strategy is to short at highs. When there is profit, remember to take it and not be greedy, especially for long positions. Wishing everyone a prosperous start on Monday.

The above information is for reference only and does not constitute investment advice.