Downtrend Blocked, Trade Cautiously on Rebounds; Major Downtrend Reversal, Re-entry After Bounce! 3.20 BTC & ETH Strategy



Initial jobless claims showed slight bullish support, but Powell's comments had excessive impact. US stocks opened and closed lower, with crypto prices following suit. Only after early morning bottom-out did a rebound occur. Yesterday, ETH was very strong, so I attempted a long trade waiting for a drop to 2100. BTC entered at 69000, currently with modest gains!

Daily chart shows three consecutive bearish candlesticks, with price closing near the mid-band. This morning's candlestick has a very long lower wick, indicating the downside was blocked. The attached KDJ indicators show three lines death cross diverging downward, MACD momentum continues to shrink. Overall trend remains bearish, so for intraday operations, I suggest focusing on selling rebounds with small longs as secondary strategy!

3.20 Short Strategy
BTC rebound 72700-73000 short, conservative entry 73500-74000, stop loss near 74600, targets around 71500-71000, if broken look for 70500-70000, continue breaking with moving stop loss to lock in profits based on situation!
ETH rebound 2230-2260 short, conservative entry 2300-2330, stop loss near 2360, targets around 2200-2170-2150, if broken look for 2100-2070, continue breaking with moving stop loss to lock in profits based on situation!

3.20 Long Strategy
BTC pullback 68500-69000 attempt long, stop loss near 68000, targets around 70000-70500-71000, if broken look for 71500-72000-72500, continue breaking with moving stop loss to lock in profits based on situation!
ETH pullback 2070-2100 attempt long, stop loss near 2040, targets around 2140-2170-2200, if broken look for 2230-2260, continue breaking with moving stop loss to lock in profits based on situation!

Beasent revealed that there are currently approximately 130-140 million barrels of sanctioned Iranian crude oil on the ocean surface. The US may lift sanctions on these "floating oil" within days to allow them to enter the market, thereby suppressing soaring oil prices. Multiple countries have also clearly indicated they will escort vessels transiting the Strait of Hormuz! #美联储维持利率不变
ETH1.67%
BTC1.18%
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