Gu Jingci: 3.18 Pay Attention to Overnight Rate Decision Dot Plot, Bitcoin/Ethereum Advance Pullback and Decline

The rate decision arrives at 2 AM, Powell speaks at 2:30 AM. For specific dot plot details, refer to the analysis in the previous article. Bitcoin/Ethereum pulled back and declined in the evening after surging and consolidating sideways for more than a day before the overnight data was released. It broke below the previous rise starting point of 2300 and near 73500, while also breaking below the 4-hour middle track line. The trend is clearly weakening, which reflects the market's non-ideal expectations for overnight data. Following the breakdown, there is further downside pullback space. From the K-line pattern on the 4-hour chart, the price has consecutively printed large bearish candles after surging higher, indicating that bearish forces are in control and price is dropping rapidly.

The daily chart shows that after a previous massive surge with large bullish candles, the market entered a correction. The evening pullback and decline broke the uptrend and formed a strong bearish engulfing large bearish candle, confirming the short-term downtrend. From technical indicators, the 4-hour MACD has formed a death cross (DIF crossing below DEA, and MACD histogram is negative and continuously expanding), indicating strong short-term downward momentum.

Evening Trading Suggestions: Bitcoin continue shorting around 72500 to 73000, target 70000 to 71000 range; Ethereum continue shorting around 2250 to 2270, target 2150 to 2180 range. If broken, continue watching 68500 and 2100 level.

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