Wave Riding in the Crypto Sea: 3.17 Bitcoin (BTC) Market Analysis Reference:

Recently, Bitcoin has continued its oscillating upward trend, although there have been corrections, this has not changed the upward trend. Early this morning, the price surged strongly and broke through recent highs, climbing all the way to around 76000 before facing resistance and retreating. Currently, the price is consolidating around 74000. Observing the daily chart, after Bitcoin's price surged to around 76000, it formed a bearish candle. The current price is still above the MA5, MA10, and MA30 moving averages, with mid-term moving averages arranged in a bullish manner, indicating a strong overall trend. However, the KDJ indicator has seen the J value enter the overbought range and is turning downwards, while the RSI is also at a high level, indicating a short-term exhaustion of bullish power. The MACD, while maintaining positive bars and the DIF above the DEA, shows a reduction in volume bars compared to the previous one, indicating that the upward momentum is weakening. Additionally, the price has touched the upper Bollinger Band and faced resistance, further confirming the short-term correction pressure. However, the mid-term upward trend in the daily chart has not been broken, and the price is likely entering a high-level oscillation and correction phase, with potential for another surge once indicators are restored.

From the short-term hourly chart, in the 4-hour timeframe, the price has descended sharply after reaching the high, currently operating above the middle Bollinger Band, still relying on moving average support and maintaining a slightly bullish operation. The KDJ indicator's J value has quickly retreated from the overbought area, forming a death cross and diverging downwards, while the RSI is also retreating in parallel. As for MACD, the DIF and DEA still maintain a golden cross, but the volume bars continue to shorten, indicating a reduction in short-term bullish strength. In the 1-hour timeframe, the current price is near the middle Bollinger Band, and technical indicators show that short-term selling pressure has been somewhat released, suggesting a demand for a rebound from oversold conditions. If subsequent support can hold at the lower Bollinger Band (73350) and the key support at 73000, there is potential for a rebound after indicator recovery; thus, the evening's strategy is to lay out positions with the idea of entering long at lower levels during retracements.

Wave Riding in the Crypto Sea: 3.17 Bitcoin Short-Term Reference:

Short Position: 75500-76500 zone to short, stop loss 500 points, target 74500-73500,

Long Position: 72500-73500 zone to long, stop loss 500 points, target 74000-75000,

Wave Riding in the Crypto Sea: 3.17 Ethereum Short-Term Reference:

Short Position: 2385-2425 zone to short, stop loss 30 points, target 2350-2285,

Long Position: 2245-2285 zone to long, stop loss 30 points, target 2315-2385,

[The above analysis and strategies are for reference only. Please bear risks yourself. The article review and release may have delays, and the strategies may lack timeliness, so do not operate blindly.]

The content of this article is originally shared by [Wave Riding in the Crypto Sea], representing only personal opinions. There may be delays in sending the article; it is for reference only, and do not operate blindly! Want to get more daily real-time trades? Then follow my public account. Here, you can learn online market technical analysis and understand knowledge related to exiting investment. I have years of research experience in the market, focusing on the major trends in the crypto space. I am mainly responsible for analyzing and guiding investment operations for BTC, ETH, DOT, LTC, FIL, EOS, BCH, ETC, and other currencies. Welcome to research and learn together.

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