Surfing the Cryptocurrency Ocean: 3.24 Bitcoin (BTC) Market Analysis Reference:

Last night, Bitcoin experienced a strong rebound, with the price rising to around 71800, and then it faced selling pressure from above, leading to a pullback. As of the time of publication, the price is fluctuating around 71000. Observing the daily chart, Bitcoin's price has broken through the middle Bollinger Band and has regained the short-term EMA moving average; the middle Bollinger Band and short-term moving average are roughly coinciding, providing some support. In terms of indicators, the KDJ indicator's J value has turned upward from the oversold zone, forming an early version of a golden cross with K and D values, accumulating some short-term rebound momentum; the MACD indicator's DIF line is close to a death cross with the DEA line, but the volume bars are relatively short and have not significantly increased. Bullish momentum has only slightly decreased, and a clear bearish trend has not yet formed; the RSI indicator remains in the neutral to bullish zone at 50-55. Overall, early signs of a rebound are evident, and if the price can continue to stabilize above the short-term moving average and drive a MACD golden cross, it may resume an upward challenge against previous highs.

From the short-term hourly chart, the current price on the 4-hour chart has strongly stood above the EMA7, EMA15, EMA20, and other short-term moving averages, and the short-term moving averages have turned upward, forming a bullish arrangement. The mid-term EMA30 and long-term EMA120 have also been gradually reclaimed by the price, clearly indicating a strengthening short-term trend; regarding Bollinger Bands, the price is breaking through the middle band from the lower band, and the upper band is beginning to open upwards, with rebound momentum gradually releasing, and the volatility range is likely to expand. In terms of indicators, the KDJ indicator's J value has quickly risen from the oversold zone to around 90, forming a clear golden cross with K and D values, resulting in strong short-term rebound momentum; the MACD indicator's DIF line has crossed above the DEA line, forming a golden cross, and the volume bars have turned from negative to positive and continue to expand, confirming the exhaustion of bearish momentum and the beginning of the dominance of bullish momentum; the RSI indicator has risen from a low to around 75 in the bullish zone, with bullish sentiment gradually heating up. In summary, the 4-hour chart has formed a clear rebound structure, with bullish momentum prevailing, and it is highly likely to continue the upward trend: if it can maintain the current moving average support and break through the upper Bollinger Band with volume, it will further challenge the resistance zone above; however, it is expected that there will be a pullback first to gather strength, so attention should be paid to the support at EMA20 and the middle Bollinger Band (69500). It is recommended to maintain low position long entries on pullbacks.

Surfing the Cryptocurrency Ocean: 3.24 Bitcoin Short-Term Reference:

Long positions: Long in the 68500-69500 range, stop loss 500 points, target 70500-71500,

Short positions: Short in the 71500-72500 range, stop loss 500 points, target 70500-69500,

Surfing the Cryptocurrency Ocean: 3.24 Ethereum Short-Term Reference:

Short positions: Short in the 2190-2220 range, stop loss 30 points, target 2150-2000,

Long positions: Long in the 2090-2120 range, stop loss 30 points, target 2140-2200,

[The above analysis and strategies are for reference only, please bear risks yourself. There may be delays in article review and publication, strategies may not be timely, and do not operate blindly]

This content is originally shared by [Surfing the Cryptocurrency Ocean], only represents personal opinions, the article may be delayed in delivery, for reference only, do not operate blindly! Want to receive more daily real-time signals? Then follow my official account! Here, you can conduct online technical learning and also learn about knowledge related to exit strategies. I have many years of research experience in the market, focusing on the overall trends in the cryptocurrency circle. Mainly responsible for analyzing and guiding investment operations for BTC, ETH, SOL, BCH, and other currencies. Welcome to study and research together.

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