March 8th BTC/ETH Market Strategy

Iran's counterattack continues to escalate, and the crypto market is trending downward in search of a bottom. After the non-farm payroll data was released on Friday, the crypto market fell into a sustained correction channel. Currently, we need to wait for a breakout from this downward channel to determine the new direction. Patience! Patience! Patience!
$BTC $ETH
BTC: The ongoing downward trend requires a definitive candlestick to confirm the direction. Currently, the support level is between 65,800 and 67,150, which is a support zone. As long as this area is not broken intraday, there is a chance for a rebound. Of course, an entry should only be made after a clear signal appears. The low point in Friday’s night session at 68,000 and the upper boundary of the box at 69,000 are intraday resistance levels. The price has been falling along a 1-hour downward channel. Stay patient and watch for a new direction after the channel is broken. If it is not broken, the current trend may continue. Do not trade just for the sake of trading; wait for signals. (See the chart for details)

ETH: On Saturday, it showed weak consolidation around the 1965 watershed. In the morning, it accelerated and broke through this level, returning to the previous range of 1940-1965. The key support level below is 1912. If there is a rebound action in the 1872-1912 area, it could be an opportunity to attempt a left-side rebound trade. The target for recovery is 1965, with a new resistance forming at 1989. Ideally, if it can return above 2000, the bulls will have a slight advantage. See the chart for details.