Coin Surfing: 3.14 Bitcoin (BTC) Market Analysis Reference:

Shortly after the article analysis was released last night, Bitcoin experienced a surge, with the price relying on a short-term support level to rise steadily. After reaching the daily high of around 73900, it faced selling pressure and pulled back, even retreating to near previous lows in the early morning. As of now, the price is trading narrowly around 70700, with the daily market entering a consolidation phase. Observing the daily chart, Bitcoin's recent price has been consistently moving between the middle and upper bands of the Bollinger Bands, attempting multiple breakouts but consistently facing selling pressure. The daily candlestick chart shows several long upper shadows, indicating significant selling pressure above. However, the KDJ three lines are arranged in a bullish formation above 50, and the RSI indicator is in a moderately bullish zone, showing that medium-term bullish strength is still dominant; the MACD green bars are continuously shortening, with bearish momentum decreasing, indicating signs of turning upwards, suggesting a generally optimistic medium-term trend. The short-term pullback is more of a consolidation phase during the upward process, and there is still potential for further upward testing, with a focus on the resistance level of 72820 at the upper band of the Bollinger Bands.

From the short-term hourly chart, looking at the 4-hour and 1-hour periods, after the price surged to around 73913, it simultaneously entered a correction phase. In the 4-hour chart, the upper band of the Bollinger Bands is flat, the KDJ three lines are diverging downwards, and the J-line has entered the oversold zone. The MACD is forming a death cross with expanding green bars, and the RSI has left the bullish range, showing significant medium-term pullback pressure. In the 1-hour chart, the price is trading between the middle and lower bands of the Bollinger Bands, which are narrowing downwards, the KDJ three lines are sticking together at a low position, and although the MACD green bars have slightly shortened, they still lean bearish. The RSI remains in a weak zone below 50, indicating insufficient short-term rebound momentum, with an overall weak oscillating pattern. Key support levels to watch below are the 4-hour lower band at 69200 and the 1-hour lower band at 70395. Given that it is the weekend, no further elaboration will be done, and the short-term market is expected to primarily show weak oscillation consolidation. Evening operations can take high short and low long positions within this range.

Coin Surfing: 3.14 Bitcoin Short-term Reference:

Short position: Short in the range of 71500-72500, stop loss 500 points, target at 71500-70500,

Long position: Long in the range of 69200-70200, stop loss 500 points, target at 70500-71500,

Coin Surfing: 3.14 Ethereum Short-term Reference:

Short position: Short in the range of 2100-2150, stop loss 30 points, target at 2080-2030,

Long position: Long in the range of 1990-2020, stop loss 30 points, target at 2080-2150,

[The above analysis and strategies are for reference only, risks are to be borne by yourself. The article review and release may have delays, and the strategies may not be timely; do not operate blindly]

The content of this article is originally shared by [Coin Surfing] and represents personal views only. There may be delays in sending the article, for reference only, do not operate blindly! Want to get more daily real-time orders? Then follow my official account! Here, you can learn online technical analysis and understand knowledge related to exiting positions. I have years of research experience in the market, focusing on the overall trends in the cryptocurrency space. I am primarily responsible for analyzing and guiding investment operations for BTC, ETH, DOT, LTC, FIL, EOS, BCH, ETC, and other cryptocurrencies. Welcome to study and research together.

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