March 17 Crypto Market



**High-position short selling offers good value; be cautious about chasing rallies.** Looking at the chart, the 75,000 high saw insufficient volume and produced a long upper wick, but the decline was also on light volume. Retail participation in this rally has been very low, so we're likely to see a period of sideways consolidation.

**On the news front, crude oil prices remain the core disruptive factor.** Although both the US and Iran say they haven't closed the strait, no shipping companies are willing to take the risk. Israel plans to deploy ground forces to open a second front against Iran, and oil prices will continue to rise.
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