Bitcoin and Ethereum Market Analysis on March 18th: Key Points for BTC and ETH Today
Market Review
BTC remained range-bound yesterday, with the overall trend still bearish (long-term). The 4-hour chart showed a slight pullback from the previous bearish divergence pattern, but it remains valid, and the expectation of a pullback remains unchanged. After breaking through 73,000, the resistance above has weakened; we await changes in trading volume. The weekly chart also awaits further adjustments.
Bitcoin (2.5) is consolidating in tandem with BTC). The bearish divergence pattern has been broken, and resistance above 2200 has weakened after the breakout. We await stabilization before considering further action. The daily chart suggests consolidation, while the larger timeframe remains predominantly bearish.
The altcoin sector is undergoing a slight consolidation following the mainstream trend, but overall liquidity remains poor. It's advisable to wait for the altcoin market to stabilize before making any decisions.
Intraday Market Analysis
BTC is above the healthy range on the 1-hour and 4-hour charts, and also on the daily chart. Intraday consolidation is expected, with support at 72500-73000 and resistance at 75500-76500.
ETH is above the healthy range on both the 1-hour and 4-hour charts, and also on the daily chart. Intraday consolidation is expected, with support at 2220-2270 and resistance at 2370-2430.
