Yueying: Bitcoin and Ethereum Market Analysis (March 23rd) - Support Levels Keep Moving Down, Is It Still Possible to Buy? Latest Trend Suggestions Included

The price action on Bitcoin, which was around 67,500 as mentioned above, has moved within a range of approximately 1,300 dollars. Looking at the daily chart, the previous two consecutive bearish candles did not continue into today's opening, but instead found support at the lower Bollinger Band and rebounded. It is currently testing the moving averages. The Bollinger Bands are flattening and showing signs of narrowing, with short-term moving averages trending downwards. The MACD fast and slow lines are crossing downwards, with the volume bars showing continued expansion. The KDJ is turning upwards; pay attention to the resistance near the 0 value. The VR indicator is consolidating around the 110 value. On the four-hour chart, the price found support at the lower Bollinger Band and rebounded, but then faced resistance at the 7-period moving average. The Bollinger Bands are trending downwards and opening, with short-term moving averages trending downwards. The MACD fast and slow lines are turning slightly upwards, with the volume bars fluctuating between expansion and contraction. The KDJ lines are crossing upwards; pay attention to the support near the 0 value. The VR indicator is consolidating around the 50 value. Overall, after the weekend's price drop to a new low, Monday's opening did not continue the decline but instead saw consolidation. Yueying believes that although the current market is dominated by bears, key support levels haven't been broken, so blindly chasing short positions is not advisable. The previous low can be used as a reference in the short term. The resistance level to watch is around 70500, and the support level is around 67000, followed by the area above 65500. For short-term suggestions, see below. Bitcoin short-term suggestion: Short at 70300, Long at 67300 (Long at 65800). Ethereum's trend is weaker than Bitcoin's. The daily and four-hour candlestick charts have been hovering around the lower Bollinger Band, facing resistance and downward pressure at the 7-period moving average. Its overall trend can be referenced in conjunction with Bitcoin. The resistance level to watch is around 2150, and the support level is the psychological level of 2000. If this level breaks, the next support level to watch is around 1930. For short-term suggestions, see below. Ethereum short-term suggestion: Short at 2120, Long at 2015 (Long at 1940). (For more cryptocurrency analysis, click the image to see the homepage introduction) — I am Zhou Yueying.