Share the current market analysis.

Weekly:

Last week, a long bearish candle with increased volume was formed, failing to stabilize above 90,000, and breaking below the consolidation range. However, it is relatively close to the long-term upward trend line, where support is strong. This area is part of the 238-day dense trading zone formed during the previous spike. Observe whether the support zone of the previous hammer candle can show signs of a stop-loss.

Daily:

After rebounding to the resistance zone of 95,000 on March 2, selling pressure was encountered. Following a stop-loss signal on March 4, there was a rebound but was once again suppressed. Currently, it is consolidating within the range of 95,302-78,197. This morning, a long bearish candle was formed, contrasting with the previous bearish volume gradually decreasing as it declines. Observe whether there are stop-loss signals near the support around 78,197, and then assess the effectiveness of the stop-loss based on the strength of the signals.

Summary:

The weekly level is in the context of a mid-bull market, transitioning from a consolidation trend to a declining trend. However, the lower part is an important support level for the long-term upward trend line, and the support from the dense trading zone formed during the previous upward trend is also strong, making it difficult to break below. Observe whether a clear stop-loss signal appears here.

At the daily level, the consolidation pattern has shifted to a reversal pattern, entering a downward trend. However, due to strong support below, observe whether a strong stop-loss signal can emerge to enhance the judgment basis.

Currently, both Bitcoin and Ethereum are above important support levels, and it depends on the signals given by subsequent candlesticks. The current market sentiment is relatively gloomy, with most favorable news already released, and the market lacks narrative. The expectation for a rate cut in March has basically disappeared, while the expectation for a rate cut in June is relatively high. Therefore, it depends on whether the main force can create a new narrative to drive market activity.