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Tuesday, March 31st Market Analysis
The hourly high and low points are rising in sync, reaching new highs, indicating a short-term bullish trend. If the price remains firmly above 68,126, it may challenge the 69,506 resistance level. Avoid blindly bearish outlooks.
Yesterday, a spike to 68,126 was followed by a pullback, which is a normal correction after liquidity absorption by the bears. Both pullbacks to the lower boundary of the flag pattern at 66,412 did not break support, and isolated lows appeared, indicating strong support.
If the price re-enters consolidation below 68,126, as long as it does not fall below 66,750, the downside is limited; a confirmed break below could target 65,521. Currently, the overall range is still between 66,505 and 68,128, waiting for a direction to be chosen. The technical outlook remains healthy, with the price already above the key level of 2,070, testing the 2,100 resistance. The strong support at 2,010 and active buying volume during rebounds show positive market sentiment.
Market sentiment and technical trends are both improving, and ETH is likely to outperform Bitcoin moving forward, leaning towards a bullish outlook!
BTC Trading Suggestions: Buy on dips around 66,600-67,200, take profit at 67,800-69,500, stop loss at 66,000.
ETH Trading Suggestions: Buy around 2,010-2,040, take profit at 2,080-2,130, stop loss at 1,990.
In case of a sudden surge at high levels, consider short positions to catch the pullback. Exercise caution with monthly closing today!