Yesterday, there was a rapid rise to a high of 68240 at 12 o'clock. Those who entered yesterday are facing a 5-point retreat, indicating a weak sustainability of the altcoin, which also shows that there is a divergence of funds at these levels. Currently, the rebound in the downtrend has not regained the 68600 level, indicating weakness. Ethereum closed with a morning star, and the short-term outlook is still bullish, with pressure around 3700.
Today, the focus is on the US Dollar Index. As mentioned in yesterday's article, the impact of the Fed's rate hike on small countries with severe inflation and currency collapse has caused the US Dollar Index to rebound from March 9th, and BTC started to decline from its high on the 14th. Those interested in the negative correlation between the US dollar and BTC can refer to previous articles for detailed explanations.
The weekly chart of the US Dollar Index is in a large triangular structure and will soon face a directional choice. As mentioned before, "when a whale falls, everything comes to life." A decline in the US Dollar Index and US bonds, and a reduction in the deposit interest rates of a beautiful country's bank will lead to a global capital inflow. Interest rate cuts will be the main theme in the future, but before that, preventing the US Dollar Index from causing trouble and harvesting the world is necessary. This also includes the impact on gold and BTC. When the US dollar falls, gold and BTC rise, and vice versa.
Bitcoin
On the daily chart, there was a small retracement yesterday, still not above the BOLL midline. After the OBV fell below the yellow line, the rebound continued to turn around, and the KDJ indicator did not cross, so we need to guard against further downward movement.
On the 4-hour chart, it was mentioned yesterday to pay attention to the potential head and shoulders bottom pattern and the right shoulder support buying point. It was also the neckline support of yesterday's V-reversal, with a rebound target of 70000-71680.
Support:
Resistance:
Ethereum
Ethereum formed a morning star yesterday, which was slightly more standard, but attention should be paid to the fact that it cannot continue to fall on the weekend, otherwise this pattern will change. ETH/BTC rebounded continuously.
On the 4-hour chart, it tested the 3413 support in the morning and will continue to oscillate here. The probability of a short-term upward rebound is relatively high. My prediction is a rebound to around 3700, then a drop to test the 3000-3200 support for the second time. The specific trend still needs further observation and follow-up analysis.
Support:
Resistance: 
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