March 16 - Bitcoin and Ethereum Market Analysis

Bitcoin has recently shown a rebound and recovery trend, driven by three main factors: the US-Iran conflict continues but market risk appetite has slightly improved, institutional capital flows in moderately, and technical oversold conditions trigger rebounds. It's worth noting that BTC has recently demonstrated certain counter-trend properties — it actually strengthened slightly when US stocks declined, on-chain whales continue to accumulate, ETF outflows have narrowed significantly, and short-term panic sentiment has eased somewhat.

The current price has reached the key resistance zone of 74,000-75,000 USD as expected. There are two possible directions going forward: first, a direct breakthrough testing resistance near 79,000 USD; second, a brief pullback and consolidation in this zone before continuing the upward push. Regardless of which path occurs, the pullback support levels or confirmation nodes after breakthrough are noteworthy entry opportunities.

Trading Recommendations:
Patiently wait for Bitcoin to pull back to around 69,500–70,000, then establish long positions in tranches.
$BTC