Gu Jingci: Bitcoin/Ethereum Trading Strategy and Market Analysis (March 17th)

Bitcoin/Ethereum surged again during the day and evening, breaking through recent highs and achieving an eight-day winning streak. However, this strong breakout also implies increasing risk. In the afternoon, it was repeatedly emphasized that Ethereum was following a trend channel on the 8-hour and 6-hour charts, with significant resistance around 2300. Although it repeatedly attempted to break through 2300 in the evening, it failed to hold. Bitcoin, on the other hand, reached a high of around 74500 before falling back, without breaking the trend. The 4-hour and 6-hour charts show signs of stalling, with repeated rallies followed by pullbacks. The overnight outlook remains bearish. Trading recommendations for the overnight session: Short Bitcoin around 73400-73800, with a target of 70500-71500; Short Ethereum around 2280-2300, with a target of 2150-2200.