3/14 BTC/ETH Market Analysis and Strategy
Last night, after the price of Bitcoin fell to the 79,900 area, it rebounded, currently fluctuating near the 81,000 line. The 4-hour candlestick chart shows that the market is experiencing insufficient rebound strength after consecutive declines. The price of Bitcoin continues to oscillate in a low range, and the low points are gradually moving downwards, indicating that the market is still in the process of finding a bottom, with bearish forces dominating and continuously being released. Looking at the hourly chart, the bearish pattern continues, suggesting that there is a possibility of further downward breakthrough in Bitcoin's price, and it is recommended to continue adopting a short-selling strategy on rebounds.
This morning, if Bitcoin rebounds to the 81,800 - 82,300 range, consider shorting 🈳, with the first target looking towards 79,000; if 79,000 is broken, then further look towards the 78,000 - 76,000 area.
The price trend of Ethereum is similar to that of Bitcoin.
This morning, if it rebounds to the 1,890 - 1,920 range, similarly consider shorting 🈳, with the first target looking towards 1,800; if 1,800 is effectively broken, the support level below can be focused on around 1,700 - 1,600.