March 9 Bitcoin Market Review + Early Morning Market Analysis

Yesterday's Review

Yesterday, Bitcoin tested the bottom and rebounded, with a low of 65,618 and a high of 69,480. The intraday increase was approximately 2.91%, showing an overall oscillating upward trend. The bullish and bearish forces switched frequently. Under Shipan's guidance, we precisely captured the waves, with two short positions and three long positions totaling gains of 4,712 in space and 16,063 in oil, maintaining a solid rhythm.

Early Morning Analysis

The price stabilized above the MA7 (68,514), indicating the continuation of the short-term bullish trend, with the MA30 (67,424) forming a strong support.

After reaching 69,480 at a high, the price slightly retreated and is now consolidating around 69,000. The KDJ indicator is in the high zone, so short-term pullback risks should be watched carefully. Key support: 68,500; key resistance: 69,500. If the previous high is broken, there is potential to challenge the 70,000 level.

The Federal Reserve's rate cut expectations remain, and a weakening dollar provides support for the crypto market. Net capital inflows are evident. Although large sell orders from major players exist, overall bullish sentiment remains strong. After short-term consolidation, there is still upward momentum.

Trading Suggestions: For long positions, wait for a pullback to around 68,000 for low buy-in, targeting 69,300-69,500; for short positions, consider light positions above 69,300 with targets at 68,000-67,000.

The reference points are for guidance only; specific instructions from Shipan shall prevail!$ETH $BTC $