Yueying: Bitcoin and Ethereum Market Analysis (March 10th) - When Will the Rebound from the Box-like Consolidation Pattern End?

Looking at the daily chart for Bitcoin, after four consecutive days of decline, the price opened higher today, testing and breaking through the middle Bollinger Band. The Bollinger Bands continue to move narrowly and flat, with short-term moving averages hovering around the middle band. The MACD fast and slow lines are extending upwards, and the volume bars are turning upwards again. The KDJ indicator is showing signs of turning downwards, while the VR indicator is consolidating around the 70 level. On the 4-hour chart, after encountering resistance around 74000, the price tested the consolidation range again, finding support and rebounding with consecutive positive candles. The Bollinger Bands are trending downwards and showing signs of narrowing, while short-term moving averages are turning upwards. The MACD fast and slow lines have broken below the zero line but are turning upwards, with the volume bars turning red and increasing in volume. The KDJ indicator is extending upwards, but watch for resistance around the 100 level. The VR indicator is consolidating around the 60 level. Overall, after breaking through the upper edge of the trading range, the price didn't extend its gains but instead returned to the range. The short-term strategy remains to treat the price within the range. However, while this breakout didn't completely disrupt the previous structure, the consolidation pattern shouldn't last too long, so be prepared for a potential trend reversal at any time. The resistance level to watch is around 71000, followed by the previous high. The short-term support level is around 65500. See short-term suggestions for Bitcoin: Short at 70800, Long at 66600 (Take profits as needed). Ethereum's technical analysis is similar to Bitcoin's, with a similar price structure. Treat it as a range-bound market; a breakout will trigger a readjustment. The resistance level to watch is around 2150, and the support level is around 1900. Note that if it breaks through the upper edge of the range again, the probability of a new high increases. See short-term suggestions for Ethereum: Short at 2125, Long at 1930 (For more cryptocurrency analysis, click the image to see the homepage introduction.) — I am Zhou Yueying, a teacher specializing in technical analysis. If you have any questions about trading or trends, feel free to discuss and learn with me! Let's exchange ideas and profit together!