Yueying: March 17 Bitcoin and Ethereum Market Analysis - Breaking Previous Highs Again, Reversal Coming? Latest Trend Recommendations Attached
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Bitcoin Technical Analysis————
In the previous analysis, the current short position at the current price has created over 1,000 dollars of profit. The second position at 76,000 short has generated about 2,000 dollars of profit. On the daily chart, the previous candle closed as a solid bullish candle. Intraday, the price opened higher and broke through the upper band and the 60-day moving average, then pulled back for a correction. The Bollinger Bands are opening, with short-term moving averages turning upward. The MACD fast and slow lines are extending upward, while the volume bars are decreasing. The KDJ indicator is near the 110 level and turning downward. The VR indicator is consolidating near the 130 level. On the four-hour chart, the market has been rising steadily, breaking through the upper band but encountering resistance and pulling back. The Bollinger Bands are slightly opening, with short-term moving averages flattening. The MACD lines are turning downward with volume continuing to decrease. The KDJ has crossed downward after turning. The VR indicator is consolidating near the 110 level. Overall, Bitcoin’s attempt to break above the previous high was unsuccessful, encountering resistance and pulling back. The technical outlook remains bullish, but caution is advised with each rally—do not blindly chase gains. In the short term, focus on whether key resistance levels can be broken. Watch above at around 76,000, and below, keep an eye on the short-term support at around 73,000. Follow the short-term trading suggestions.
Bitcoin Short-term Trading Recommendations: Long at 73,300; Short at 75,500 (Short at 77,600) — activate the strategy to realize profits and manage positions accordingly.
Ethereum Technical Analysis————
From the previous analysis, the current short position at the current price has limited pullback, with the second position generating about 80 dollars of profit. On the four-hour chart, after a surge, the price closed with a pin bar, indicating a need for adjustment. The intraday movement is linked to Bitcoin’s trend, so follow the same logic. Watch resistance around 2,400; if broken, then look toward 2,500. Support levels are around 2,200. Follow the short-term trading suggestions.
Ethereum Short-term Trading Recommendations: Long at 2,260; Short at 2,380 (Short at 2,470) — activate the strategy to realize profits and manage positions accordingly.
——I am Zhou Yueying, a teacher specializing in technical analysis. If any friends have questions about trading operations or trends, feel free to communicate and learn together! Let’s exchange ideas and profit together! #BTC #ETH
