Yueying: Bitcoin and Ethereum Market Analysis (March 19th): Will the Interest Rate Decision Help a V-Shaped Rebound After a Surge and Pullback? (Intraday Trading Suggestions Included)
Looking at the daily chart for Bitcoin, after a previous high followed by a pullback and a closing price reversal, the price opened lower today with consecutive bearish candles. The Bollinger Bands show signs of narrowing, short-term moving averages are flattening and turning downwards, the MACD fast and slow lines are turning downwards with decreasing volume, the KDJ has crossed and is extending downwards, and the VR indicator is consolidating around 110. On the four-hour chart, the price has fallen for three consecutive days and is currently finding support around the 60-day moving average and the lower Bollinger Band. The Bollinger Bands are flattening and showing signs of opening downwards, short-term moving averages are turning downwards, the MACD fast and slow lines are extending downwards with increasing volume, the KDJ found support near 0 and is turning upwards, and the VR indicator is consolidating around 70. Overall, the price has encountered resistance after its initial rise and failed to break through and stabilize around 76,000. The probability of retesting the 70,000-69,000 level is increasing. The interest rate decision early Thursday morning is expected to cause market volatility, so short-term trading will likely remain range-bound. Although the price broke through the previous trading range, it lacked sustained strength. If the news is positive, it could test resistance again. The short-term resistance level to watch is around 74,000, while the support level is around 69,000. See short-term trading suggestions. Bitcoin short-term suggestions: Short at 73,300, Long at 69,800 (Take profits as needed after strategy activation). Ethereum's technical trend is similar to Bitcoin's, having encountered resistance around 2400 and retracing. The previous daily candlestick closed as a bearish candle at a high level. After a slight rebound at the open, it plunged again, breaking below 2200. The short-term resistance level to watch is around 2300. If the rebound fails to break through, continue to expect a retracement. The support level to watch is around 2050. See short-term trading suggestions. Ethereum short-term suggestions: Long at 2070, Short at 2285 (Click the image to see the homepage introduction for more cryptocurrency analysis). — I am Zhou Yueying, a teacher specializing in technical analysis. If you have any questions about trading or trends, feel free to discuss and learn with me! Let's exchange ideas and profit together!