Tuesday, March 5, 2024

How far can it go after the expected rise?

① 23:00 US February ISM Non-Manufacturing PMI

② 01:00 the next day, US Federal Reserve Director Barr participates in an online discussion

1. Daily chart: After the price broke through the 58,000 level, it continued to rise. If the subsequent pullback does not break this support, the upward trend will continue.

2. 1-hour chart: After a short-term breakthrough above the 64,400 level, it continued to rise. If the subsequent pullback does not break this support, there is still a trend of further increase.

II. Ethereum

1. Daily chart: After the price broke through the 3,300 level, it continued to rise. If the subsequent pullback does not break this support, there is still a trend of further increase.

2. 1-hour chart: After a short-term breakthrough above the 3,530 level, it continued to rise. If the subsequent pullback does not break this support, there is still a trend of further increase.

I. Bitcoin

1. Yesterday's view:

Summary: After the price broke through the 60,500 level in the short term, it maintained oscillation above it. If the subsequent pullback does not break this support, there is still a trend of further increase. The resistance above is at 64,300 and 67,000; if it breaks below, a pullback trend will unfold, with support below at 56,700 and 54,400.

2. Subsequent trend:

The subsequent trend saw a significant rise after a pullback did not break the 60,500 level, and successfully reached the second target of 67,000, reaching a high of 68,653.

II. Ethereum

1. Yesterday's view:

Summary: After the price broke through the 3,300 level in the short term, it maintained oscillation above it. If the subsequent pullback does not break this support, there is still a trend of further increase. The resistance above is at 3,580 and 3,730; if it breaks below, a pullback trend will unfold, with support below at 3,090 and 2,945.

2. Subsequent trend:

The subsequent trend saw a slight pullback after not breaking the 3,300 level, followed by a significant rise, and successfully reached the first target of 3,580, reaching a high of 3,658.

I. Bitcoin

Summary: After the price broke through the 64,400 level in the short term, it continued to rise. If the subsequent pullback does not break this support, there is still a trend of further increase. The resistance above is at 71,000 and 73,000; if it breaks below, a pullback trend will unfold, with support below at 60,400 and 56,700.

II. Ethereum

Summary: After the price broke through the 3,530 level in the short term, it continued to rise. If the subsequent pullback does not break this support, there is still a trend of further increase. The resistance above is at 3,750 and 3,860; if it breaks below, a pullback trend will unfold, with support below at 3,380 and 3,270.

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