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March 9th (Monday) Afternoon Bitcoin and Ethereum Market Outlook:
The short-selling strategy suggested over the weekend has successfully realized profits. In the afternoon, the focus remains on shorting at high levels, and taking short positions on rebounds. There is still ample room for downside movement below, and we are currently waiting for the right opportunity. A strong start to the new week—wishing everyone a smooth week and full gains!
From the 1-hour technical indicators:
The price surged higher but then showed signs of a weak correction. There is some demand for a decline, but the momentum is limited; bearish volume has decreased, and moving averages are slightly turning upward. A short-term rebound is possible, but the momentum to continue higher is insufficient. Future operations should mainly focus on shorting at high levels.
From the 4-hour technical indicators:
After the price surged and then corrected, the middle band formed short-term support. The slight rally and subsequent pullback opened a downward channel after the narrowing. The bulls' volume is unable to sustain momentum and has turned bearish, with moving averages turning downward. The wide-range oscillation pattern will likely continue in the short term, with further downside potential. Price movement will be slow with limited strength release. Future operations should revolve around the oscillation pattern, primarily participating in short positions at high levels.
Personal trading suggestions:
- Bitcoin (BTC): Short near the 68,000–68,500 range, targeting 66,500–66,000.
- Ethereum (ETH): Short near the 2,000–2,020 range, targeting 1,920–1,880.