BTC/ETH Intraday Structure Observation (March 6)

First, the conclusion: this round of decline resembles “deleveraging at high levels driven by events,” not a complete trend reversal. The Middle East conflict combined with fluctuations in U.S. Treasury yields has increased risk premiums, prompting short-term funds to reduce risk exposure, leading to a synchronized pullback in mainstream cryptocurrencies.

Market Breakdown:
1) BTC: Support below 71k is moderate, indicating that profit-taking from chasing highs is still ongoing; if it can stabilize in the 69.8k-70.3k range, there’s still a chance for a rebound to 72.2k-73k.
2) ETH: Relative strength is weaker than BTC; if the 2,040 level is broken, it could trigger further defensive trading; initial resistance levels are at 2,120-2,150.
3) Altcoins: Until trading volume shows a significant rebound, avoid blindly bottom-fishing; prioritize observing the pace of capital flow back into leading assets.

Trading Ideas (for discussion only):
- Aggressive: Attempt short positions at minor rebounds near resistance levels with tight stop-losses;
- Conservative: Wait for key supports to stabilize before gradually adding back positions, keeping risk within manageable volatility;
- Consensus: Focus on risk management first, then consider profit potential.

Key points to watch: Changes in risk appetite after tonight’s US stock market open, the correlation between the US dollar index and 10-year yields, and whether large on-chain transfers continue to increase.

Disclaimer: The above is solely personal market observation and does not constitute investment advice.