March 30th, Monday Midday Market Analysis
First, congratulations to the brothers and sisters who placed orders around 65,000 for Bitcoin and 1,940 for ETH. This morning, Bitcoin initially dipped to around 64,900, then quickly rebounded, gaining nearly 2,000 points; Ethereum also broke its previous low to reach around 1,936. However, the early breakdown pattern was merely a continuation of last week's waterfall formation, serving as a secondary probe. Overall, the bearish momentum has been significantly weakened and faced resistance.
Short-term rebound sentiment is warming again, with an upward trend steadily gaining strength. On the four-hour chart, after a brief dip below the Bollinger Bands lower band, the price quickly rebounded and stretched upward. The candlesticks are strongly testing the middle band resistance, with a long lower shadow indicating that the morning breakdown was a false break, and the rebound effect is further strengthening. The MACD shows a bullish crossover and is gradually expanding, indicating a trend turning positive, with current market momentum driven by activity.
On the hourly chart, a strong three consecutive bullish candles have formed, with the price rising from the lower Bollinger Band to the upper band. The MACD is about to form another golden cross, fully confirming that the bulls are warming up rapidly.
BTC Trading Strategy: Go long in the 66,000-66,500 range, with take profit at 67,500-69,500, and stop loss at 65,400.
ETH in the 1,980-2,000 range, with take profit at 2,050-2,150, and stop loss at 1,960.