Analyst Chen Shu: Bitcoin and Ethereum traded in a narrow range on March 12th; continue to monitor the 70,000 resistance level for a potential breakout.

Analyst Chen Shu: Bitcoin and Ethereum are trading in a narrow range on March 12th. Continue to monitor the 70,000 resistance level. Looking at the daily chart for Bitcoin, yesterday's article suggested shorting at 7.1. After a rebound, the price retraced to around 6.9, resulting in a profit of nearly 2000 points. Yesterday, the price range narrowed, rebounding to 7.1 before falling again. Support is seen at 6.78, while resistance remains at the 4-hour MA256 around 70,000. Until this level is broken and held, the market is expected to remain range-bound. Looking at the daily chart for Ethereum, yesterday's small doji candlestick indicates support at the MA30 around 1980, while resistance is also seen at the 4-hour MA256 around 2080. In the short term, the market is consolidating within a triangle pattern; watch for a breakout from this triangle. Midday Trading Strategy (Written at 16:20): BTC: Short at 7.05, add to short position on a rebound to 7.15, target 6.9/6.85; Long at 6.78/6.65 for a 2000-point rebound. ETH: Short at 2070, add to short position on a rebound to 2130, target 2020/1980; Long at 1980/1900 for a 100-point rebound. Daily analysis strategies have a very high win rate! Analysis is not easy, so please give a free follow, save, like, and comment. Thank you! Welcome to leave comments below for discussion; I will reply to each one.