The weekend volatility and washout ended. In the early morning, we followed the market trend and went long at 71,500, capturing 1,500 points. The subsequent market movement aligned with our expectations. This morning, we already provided a clear bullish outlook to everyone, and the market has delivered perfect confirmation again. Today, Bitcoin recorded two consecutive strong long positions, capturing 2,300 points of gains. Two live trading profit-taking orders led students to achieve two precise take-profits while avoiding the afternoon crash. In the crypto market, one should always maintain a clear mind to avoid unnecessary risks.
Looking at Bitcoin's 4-hour chart, combined with previous low-level rallies, the overall K-line presents a typical structure of an uptrend breakout followed by volatility correction. Although pullbacks have occurred, the Bollinger Band middle line remains strong support, with the rebound amplitude gradually weakening. From a 1-hour perspective, the current price has pulled back after touching the upper Bollinger Band but quickly rebounded. This indicates there is not much downside space in the Bollinger Band lower area. This round of pullback has basically ended. Short-term outlook remains bullish unchanged, still expecting continued upward movement.
Bitcoin in the 73,400 to 73,000 range, watch 75,000. Ethereum at 2,270 to 2,240, watch 2,350.
March 16 Bitcoin Market Summary
The weekend volatility and washout ended. In the early morning, we followed the market trend and went long at 71,500, capturing 1,500 points. The subsequent market movement aligned with our expectations. This morning, we already provided a clear bullish outlook to everyone, and the market has delivered perfect confirmation again. Today, Bitcoin recorded two consecutive strong long positions, capturing 2,300 points of gains. Two live trading profit-taking orders led students to achieve two precise take-profits while avoiding the afternoon crash. In the crypto market, one should always maintain a clear mind to avoid unnecessary risks.
Looking at Bitcoin's 4-hour chart, combined with previous low-level rallies, the overall K-line presents a typical structure of an uptrend breakout followed by volatility correction. Although pullbacks have occurred, the Bollinger Band middle line remains strong support, with the rebound amplitude gradually weakening. From a 1-hour perspective, the current price has pulled back after touching the upper Bollinger Band but quickly rebounded. This indicates there is not much downside space in the Bollinger Band lower area. This round of pullback has basically ended. Short-term outlook remains bullish unchanged, still expecting continued upward movement.
Bitcoin in the 73,400 to 73,000 range, watch 75,000. Ethereum at 2,270 to 2,240, watch 2,350.