3.21 Midday BTC & ETH Market Analysis

I. BTC Market Analysis

Bitcoin's previous triangular consolidation pattern has effectively broken down, followed by a retest of the key support level at 69222 to confirm validity. After support validation, a phase rebound has been initiated. The current core observation point is whether the price can return to run within the triangular consolidation zone: if successfully reclaimed, the 71505 neckline resistance above will be broken through in sequence, and an hourly W-bottom pattern will be established simultaneously, with rebound targets targeting the 72189-72826 resistance zone.

From a chart structure perspective, Bitcoin is maintaining above 70400 in the short term, with a breakthrough of the 71505 neckline being only a matter of time; if a pullback breaks below 70400 with volume, it will retest the 69222 support again——consolidation at this level will extend the rebound, while breaking below will likely initiate a phase correction. Currently overall ranging between 69222-71505 in a narrow consolidation, only an effective breakthrough above 71505 or breakdown below 69222 can break the oscillation and establish a one-way trend, otherwise consolidation will persist.

Trading Strategy

1. Right-side trading: Volume breakout above 70726 and holding steady can follow with long position, targeting 71505-72189; volume breakdown below 70421 with failed relief rally, trade short with trend and set strict stops.

2. Key dividing line: Hourly level holding 70726 provides upside momentum; if pressured at this level, rebound space is limited.

3. 4-hour level: If breaks below 69868, downside targets look at 68932-68203 support zone.

II. ETH Market Analysis

Ethereum's previous bearish flag pattern has broken down, currently attempting to reclaim the flag zone. If successfully returning to run within the flag, upside needs to first break through 2167-2179 phase resistance levels, then can target around 2202; if unable to break this zone, maintaining oscillation within the flag would constitute a relatively strong structure.

On support levels, 2105 is the short-term core support, with consolidation here limiting decline magnitude and likely maintaining 2105-2147 range oscillation; if breaks below 2105, will further probe 2051 support.

Key Resistance and Support

• Upper resistance: 2157-2191-2232

• Lower support: 2142-2115-2087

Trading Strategy

1. Right-side trading: Volume breakout above 2157 follow with long, break and recovery means stop loss; volume breakdown below 2141 trade short with trend, strict risk control.

2. Low-side accumulation: Retest of 2105 support confirmation can layout long position, break below 2068 triggers stop loss.

3. High-side short layout: Relief rally to 2232 can layout short position, breakthrough to 2266 triggers stop loss.

4. Left-side pending orders: 2035 can place long orders, break below 2005 exit position.

5. 4-hour level: If breaks below 2117, downside targets look at 2071-2021.

Overall, both markets are at critical pattern decision stages. Operations focus on following key level breakthroughs and strict stop loss risk control, without predicting or holding against positions, executing trades following volume-price and pattern signals. #Gate13周年全球庆典 #btc #eth