March 12th, the cryptocurrency market迎来关键宏观事件落地. The US February CPI data was released last night, showing a 0.3% month-over-month increase and approximately 2.4% year-over-year increase, with core CPI rising 0.2%, all in line with market expectations.

Currently, Bitcoin and Ethereum are both in a range-bound consolidation pattern, waiting for an effective breakout to confirm the direction. Bitcoin remains stable above the $70,000 mark, but $72,000 has become a key resistance; Ethereum is oscillating within the $2000-2100 range, with limited bullish momentum but initial bottom support confirmed.

💰 Bitcoin (BTC): 72000 becomes a key resistance, bullish structure remains intact
Key level updates
· Core support: 68,300-69,000 (short-term), 65,500 USD (core support)
· Support below: 64,000 USD (uptrend line core support)
· Resistance above: 71,700-72,200 USD (breakout needed to open upward space)
· Key observation level: 71,840 USD
Bitcoin rebounded after testing support at 69,000 yesterday, but the short-term trend remains choppy, with prices fluctuating within a 2,000-point range. The daily candles have closed with three consecutive bullish days, but the gains are diminishing, indicating weakening short-term upward momentum.
Intraday outlook
Range-bound with a slight bullish bias, but beware of false breakouts. Although prices have returned above 70,000, whether they can stabilize and break through 72,200 is critical for the day. If unable to break through, a pullback to 69,200 or even 68,300 for support is possible.
Strategy reference
Consider light short positions in the 71,700-72,700 USD area with a 500-point stop-loss, targeting below 70,500.
· For support in the 69,300-68,300 USD area, consider long positions with a target above 70,300 and a 500-point stop-loss.

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💰 Ethereum (ETH): $2000 supports the bottom, upward trend gradually forming

Key level updates
· Core support: $2000-2008 (psychological level), $1985-1990 (middle Bollinger Band)
· Strong support below: $1960 (short-term defense level)
· Resistance above: $2087-2100 (first barrier), $2120-2150 (area of heavy short interest)
· Breakout confirmation level: $2108 (volume breakout needed to reverse consolidation)

Intraday outlook

Range-bound with a neutral bias, but weaker than the broader market. ETH currently follows BTC's movements, but the $2000 level has formed a solid bottom. Technical indicators show bullish momentum is accumulating, but there is strong resistance around 2087-2100. Only a volume breakout above 2108 can reverse the consolidation. As long as the $2000 support holds, an upward trend is expected.

Strategy reference

· Long positions in the $2010-1960 range with a 40-point stop-loss, targeting 2100-2150, with a breakout above 2200.
· After clear resistance appears at $2100-2150, consider light short positions with a 20-point stop-loss, targeting 2020-2000.
· Focus on defending the $2000 level; the main bias remains upward.

---Liquidation Map Reminder

Data shows that ETH around $2130 has a large cluster of shorts, and BTC in the $74,000-$75,500 range also has dense short positions. These are potential triggers for increased volatility.