Analyst Chen Shu: 3.19 Afternoon Bitcoin and Ethereum Market Strategy Report, Focus on the Federal Reserve Decision and the Breakthrough of the 8.48 Resistance Level

From the daily chart, Bitcoin closed with a green candlestick with a lower shadow yesterday, and the price is currently at the 1-hour MA256 moving average around 8.3. Today, we will pay attention to whether it can stabilize above 8.3 after breaking through. The 4-hour MA120 moving average at 8.48 is also a key resistance level. Although there was a Federal Reserve interest rate meeting in the early morning, the overall interest rate expectations have been digested in advance. As long as the price does not break and stabilize above 8.48, we will maintain a bearish outlook. If it stabilizes above 8.48, we can look towards 8.75; otherwise, we will continue to treat it with weak fluctuations.

From the daily chart, Ethereum has currently risen above the MA5/10 moving averages as they continue to decline. As analyzed yesterday, the bottom consolidation has lasted for a long time, and it is still uncertain whether it will end the consolidation and enter a gradual upward phase. We will pay attention to the breakthrough of the 4-hour MA120 moving average at the 2070 resistance level.

Afternoon Trading Strategy (Written at: 13:00):

BTC: Short at 8.48, stop loss at 800 points, target at 8.35/8.25; Long at 8.25/8.22, target at 8.4/8.5

ETH: Short at 1945, stop loss at 30 points, target at 1880/1900; Long at 1920/1900, target at 1950/2070

The daily analysis strategy has a very high win rate! Analysis is not easy, and I hope everyone can give a free follow, save, like, and comment. Thank you all, and feel free to leave comments below; I will reply to each one!

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