Mu Feng's Trend Analysis: Bitcoin/Ethereum Intraday Market Analysis and Trading Suggestions (March 16)

Mu Feng's Trend Analysis: Bitcoin/Ethereum Intraday Market Analysis and Trading Suggestions (March 16th) On the weekly chart, the KDJ indicator formed a golden cross at the bottom this week, but the Bollinger Bands and MACD indicators continue to exert downward pressure. The 10-day and 30-day moving averages are also trending downwards, indicating significant selling pressure and strong resistance at higher levels. On the daily chart, the KDJ and MACD indicators both formed golden crosses today, and the price broke through the upper Bollinger Band. The moving averages are in a bullish alignment, and the price has touched the upper resistance zone of the upward trading range. Whether it breaks through or not will determine the subsequent trend. The 4-hour chart shows a bullish convergence of KDJ, MACD, and Bollinger Bands, with a breakout and derailment. Moving averages are also in a bullish alignment, but there's a gap between the price and the 5-day moving average. The price tested the high of the trading range but failed to break through effectively, indicating a need for technical correction. A slight pullback is expected in the near future. The recommended strategy is to sell on rallies. Specific entry points are as follows: - BTC: Sell at 73800-74500, target 72000 - ETH: Sell around 2260-2290, target 2180 Note: The above analysis and suggestions are for reference only. Market conditions are constantly changing, and this article may be outdated. Please refer to real-time guidance for actual trading.