Share the current market analysis.

Weekly:

Last week closed with a small bullish candle with slightly increased volume, forming a pregnant line pattern, which indicates that the market has stopped falling and is entering a consolidation phase. It is currently above the long-term upward trend line, and the previous trend's high point has formed a significant concentrated trading area support level here, which is an important support level, thus enhancing the effectiveness of the stop-loss signal.

Daily:

On March 11, it tested the support level downwards and broke the low of the previous hammer candle, but the break was not significant and quickly returned to form a medium bullish candle. This combination shows an increased bullish engulfing stop-loss signal, and it is still in the rebound process. Currently, it is facing resistance at the middle track, with the overall rebound being weak and still below the 50% fluctuation of the consolidation range 95302-78197, indicating that the bulls do not hold an advantage, and the overall trend is still in a downward continuation. We will observe whether the subsequent K-lines continue to form multiple strong stop-loss signals here.

Summary:

The trend background at the weekly level is in the mid-bull market, in an adjustment cycle, still above the long-term upward trend line, having stopped falling near an important support level, which has enhanced the effectiveness of the stop-loss signal.

At the daily level, the trend is in a downward continuation, but the lower support area is a concentrated trading area for 230 days, which has strong support. As the consolidation period elongates, there is a probability of forming a bottom here.

Both Bitcoin and Ethereum are in an adjustment cycle. From the weekly closing perspective, Bitcoin is still slightly stronger. The overall market sentiment is very poor, and there is no significant positive narrative emerging. During this gap, the probability of consolidation is higher. It remains to be seen whether the expectations of interest rate cuts in June will be speculated upon; I still believe in the pattern, patiently holding assets and waiting for the bloom.