Gu Jingci: Bitcoin/Ethereum Trading Strategy with Market Analysis (March 23)

Bitcoin/Ethereum has been trading in a narrow range since its rapid decline in the early morning yesterday. A dip in the early morning saw a significant narrowing of the overall decline, reaching lows around 67300 and 2024, indicating a weakening of bearish momentum. Currently, the price has rebounded somewhat, with the four-hour closing price above 68000 and 2050, showing further signs of stabilization. Those who entered long positions on pullbacks as mentioned last night should have added to their positions on any pullbacks to lower their average price. Therefore, the current average price is around 68000 and 2050, so patience is advised. Since its surge and subsequent pullback, Bitcoin and Ethereum have been trading in a wide range, with a low probability of a one-sided move, continuing to oscillate within the range. The daily chart shows weak oscillation, with a bearish engulfing pattern forming at the high, breaking through key support levels of 74000 and 2200. The MACD histogram is turning red, the DIF is turning downwards, and trading volume is shrinking, indicating short-term weakness. However, the short-term market shows signs of stabilization. If it can consolidate above 68000 and 2050, there is a chance of a rebound to test the 71000-72000 and 2160-2200 areas. If it continues to test the overnight low of 67300 and 2024, there is a risk of breaking below 66000 and 2000. Trading suggestions: After adding to positions, hold long positions at an average price of 68000 and 2050 patiently and wait for a rise. Alternatively, continue to go long on Bitcoin around 67800-68200, with a target of 69800-70500; continue to go long on Ethereum around 2040-2050, with a target of 2130-2160. We are here every day, not to prove a high win rate, but simply to let you know that our team is always there, monitoring the market 24/7, professional and reliable. Analysis and strategies are for reference only; please bear your own risks. Article review and publication are not timely; please refer to real-time information.