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Just finished the market review, feeling a bit excited and a bit overwhelmed—both bulls and bears have gained some ground, but it all depends on who can cut faster.
Let me translate what just happened in the market:
The Middle East has calmed down, and the global markets have finally breathed a sigh of relief. People are less panicked, and money is starting to flow back into Bitcoin. The result? Last night’s big bullish candle pushed us straight above 70,000!
But don’t rush to call the bull market back.
Why? Look above, that old high at 74,000 is still hanging there like a ceiling. We touched around 72,000 today, clearly feeling some resistance—like hitting your head on a stove lid, a bit hard to push through.
How to read the charts? Simply put:
Daily Chart: The bears have temporarily retreated, entering a “rest and repair” phase. We’ve broken above the 5-day and 10-day moving averages, but the 20-day is still pressing down—like standing up and having a pole hanging over your head.
4-Hour Chart: Looking good! Climbing step by step, with higher lows and higher highs. The MACD red bars are enlarging, showing bulls still have strength.
1-Hour Chart: Tired from the rally, taking a breather at high levels. Slight pullback, but quickly pulled back up, indicating plenty of buyers below. However, short-term indicators are a bit high, so a pause might be needed.
How to play today?
Honestly: Both bulls and bears have opportunities, but it’s all about “cutting with a sharp blade.”
For the bulls: Wait for a pullback around 69,500-70,000, don’t chase the high.
For the bears: Wait for a rebound to around 72,000-72,500 to try shorting, with proper stop-losses.
The core message: Don’t get carried away, keep your perspective, and run when there’s profit.
In this market, whoever is precise eats the meat; whoever’s greedy pays the price.
3.11 Bitcoin Trading Strategy:
1. Short at 73,900-73,100, stop above 74,700, target 71,700-71,200
2. Long at 70,100-70,600, stop below 69,100, target 71,400-72,100
3.11 Ethereum Trading Strategy:
1. Short at 2,155-2,115, stop above 2,205, target 2,065-2,025
2. Long at 2,018-2,055, stop below 1,975, target 2,115-2,155