Yueying: March 24 Bitcoin and Ethereum Market Analysis Today - The Critical Level Holds, Expect Continued Range-Bound Decline + Latest Market Recommendations
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Bitcoin Technical Analysis————
On the daily chart, Bitcoin's previous large bullish candle recovered the weekend's decline. After breaking through the midline, it encountered resistance at the 60-day moving average and is currently trading above the midline. The Bollinger Bands are flattening with slight contraction. Short-term moving averages are trending downward, MACD fast and slow lines are supported at the zero axis and moving flat with decreasing volume bars. KDJ is extending upward, and VR is consolidating near the 130 level. On the 4-hour chart, after a rapid rally, the price faced resistance at the 60-day moving average and upper band, then pulled back under pressure with a wick. The Bollinger Bands are in a flat state with short-term moving averages crossing upward. MACD fast and slow lines are extending upward with decreasing volume bars. KDJ has turned downward, so watch for resistance near the 90 level. The VR indicator is consolidating near the 170 level. Overall, the price was strongly supported around 67,000 and rebounded sharply, creating a rollercoaster pattern. Bulls and bears are repeatedly pulling within the range. The 73,000 level is a key short-term dividing line; a break and stabilization above this level would allow the bullish trend to continue, otherwise it remains a range-bound structure. Watch the support around 68,000. Short-term trading suggestions are as follows.
Bitcoin Short-Term Suggestions: Short at 72,300; Long at 68,500 (Profit-taking is at your discretion once the strategy is activated)
Ethereum Technical Analysis——
Ethereum faced resistance at the 60-day moving average and pulled back, mirroring Bitcoin’s movement. Treat the current range as unbroken. Short-term reference points can align with Bitcoin. Watch for resistance near 2,250 and support around 2,000. Short-term trading suggestions are as follows.
Ethereum Short-Term Suggestions: Short at 2,230; Long at 2,050 (Profit-taking is at your discretion once the strategy is activated)
——I'm Zhou Yueying, a teacher specializing in technical analysis. If you have any questions about trading operations or market trends, feel free to exchange ideas and learn together! Let’s communicate and profit together! #BTC #ETH