Crypto Wave Chasing: 3.12 Bitcoin (BTC) Market Analysis Reference: Bitcoin pulled back to test lower support yesterday evening, stabilized and bounced back, surged to pierce 71300 level and came under pressure again, the market entered a range consolidation phase. As of press time, the coin price is running around 70000. From the BTC daily chart perspective, it is currently running between the BOLL mid-band and upper-band, with upper-band pressure still in place. Short-term EMA average lines are flattening and curling upward with price standing solidly above them. Although long-term EMA is still declining and mid-term bearish pattern is not completely reversed, the KDJ three lines are converging around 50 with a bullish bias. MACD volume columns continue with positive values, DIF and DEA maintain close running trajectories near the zero axis. Bearish momentum is weakening and bullish momentum is gradually accumulating. Short-term will likely grind the bottom in the 68000-72000 range and is expected to test the BOLL upper-band pressure. If 72000 is effectively broken through, it opens mid-term rebound space. From short-cycle hourly chart observation, at the 4-hour level, the Bollinger Bands show a closing pattern with upper-band pressing down. Current coin price is running near the BOLL mid-band. KDJ three lines are at low levels with no inflection signals yet. MACD volume columns continue to shrink, turning from positive to negative with fast and slow lines approaching convergence, showing signs of forming a dead cross. Short-term has expectations to explore lower, however the 68000 lower-band support is relatively strong. Price is expected to oscillate repeatedly in the 68000-71000 range. At the 1-hour level, price has fallen from the high of 71320 to below the BOLL mid-band. KDJ indicator's J line has rebounded from the low and turned upward. DIF is approaching DEA, RSI is hovering around 50, showing weakening bearish momentum and bulls attempting repair. Short-term shows oscillatory repair trend. Overall, short-cycle still focuses on oscillation. Need to pay attention to breakthroughs of key support and resistance levels. Intraday operation suggestions: high sell and low buy within the range. Crypto Wave Chasing: 3.12 Bitcoin Short-term Reference: Short: 71000-72000 range short, stop loss 500 points, target 71000-69000 Long: 68000-69000 range long, stop loss 500 points, target 69000-70500 Crypto Wave Chasing: 3.12 Ethereum Short-term Reference: Short: 2090-2120 range short, stop loss 30 points, target 2050-2000 Long: 1975-2005 range long, stop loss 30 points, target 2050-2100 This article content is originally shared by 【Crypto Wave Chasing】, representing personal views only. The article has transmission delays and is for reference only. Do not blindly operate! Hope everyone on the investment journey, no matter how the market changes, can stick to your own principles, maintain rationality and calmness. #Gate广场AI测评官 #Gate2月衍生品市场份额创新高 #原油价格上涨 $BTC $GT $ETH
Crypto Wave Chasing: 3.12 Bitcoin (BTC), Ethereum (ETH) Latest Market Analysis Reference Today, Information Interpretation
Crypto Wave Chasing: 3.12 Bitcoin (BTC) Market Analysis Reference:
Bitcoin pulled back to test lower support yesterday evening, stabilized and bounced back, surged to pierce 71300 level and came under pressure again, the market entered a range consolidation phase. As of press time, the coin price is running around 70000. From the BTC daily chart perspective, it is currently running between the BOLL mid-band and upper-band, with upper-band pressure still in place. Short-term EMA average lines are flattening and curling upward with price standing solidly above them. Although long-term EMA is still declining and mid-term bearish pattern is not completely reversed, the KDJ three lines are converging around 50 with a bullish bias. MACD volume columns continue with positive values, DIF and DEA maintain close running trajectories near the zero axis. Bearish momentum is weakening and bullish momentum is gradually accumulating. Short-term will likely grind the bottom in the 68000-72000 range and is expected to test the BOLL upper-band pressure. If 72000 is effectively broken through, it opens mid-term rebound space.
From short-cycle hourly chart observation, at the 4-hour level, the Bollinger Bands show a closing pattern with upper-band pressing down. Current coin price is running near the BOLL mid-band. KDJ three lines are at low levels with no inflection signals yet. MACD volume columns continue to shrink, turning from positive to negative with fast and slow lines approaching convergence, showing signs of forming a dead cross. Short-term has expectations to explore lower, however the 68000 lower-band support is relatively strong. Price is expected to oscillate repeatedly in the 68000-71000 range. At the 1-hour level, price has fallen from the high of 71320 to below the BOLL mid-band. KDJ indicator's J line has rebounded from the low and turned upward. DIF is approaching DEA, RSI is hovering around 50, showing weakening bearish momentum and bulls attempting repair. Short-term shows oscillatory repair trend. Overall, short-cycle still focuses on oscillation. Need to pay attention to breakthroughs of key support and resistance levels. Intraday operation suggestions: high sell and low buy within the range.
Crypto Wave Chasing: 3.12 Bitcoin Short-term Reference:
Short: 71000-72000 range short, stop loss 500 points, target 71000-69000
Long: 68000-69000 range long, stop loss 500 points, target 69000-70500
Crypto Wave Chasing: 3.12 Ethereum Short-term Reference:
Short: 2090-2120 range short, stop loss 30 points, target 2050-2000
Long: 1975-2005 range long, stop loss 30 points, target 2050-2100
This article content is originally shared by 【Crypto Wave Chasing】, representing personal views only. The article has transmission delays and is for reference only. Do not blindly operate! Hope everyone on the investment journey, no matter how the market changes, can stick to your own principles, maintain rationality and calmness. #Gate广场AI测评官 #Gate2月衍生品市场份额创新高 #原油价格上涨 $BTC $GT $ETH