BTC
BTC closed with a large bearish candlestick with upper and lower shadows this morning, marking the start of two consecutive days of decline on the daily chart. The daily MACD has formed a death cross crossover and is opening downwards, while the monthly chart shows six consecutive months of decline, establishing a downtrend. It has now officially started the fifth wave of the downtrend, and without positive news, it will be difficult to rise in the short term.
Currently, 65501 appears to be the lowest point this week. We are currently in a 2-3 hour rebound phase, with resistance at 66785-67250, close to the point where we should cover our short positions. Reduce positions and set a stop-loss at 67300. Next week is a transitional week between late March and early April, and it will be another tough battle.
For short positions, you can manually take profit at each support level. The next support level is 65085, followed by 64450 and 63850 if the price breaks through.
The area around 6.4w is the lower Bollinger Band of the 2-day timeframe, and it's also close to the strong support level of 63300 above 6w. There will be some resistance there, so it's best to add to your position after a rebound.
ETH
ETH has continued its rapid decline in the short term, falling from around 2380 to 2k, essentially erasing all the gains from the previous period. It fell slightly short of the expected low, which was originally expected to be in the 1900-1920 range. The current low is around 1965u. We should pay attention to the strength of any small-scale rebound.
If the market remains weak, it may enter this range. We will refrain from trading at the tail end of the decline and wait for a clear bottoming signal before entering the market.
FORTH
FORTH surged 50% today, another example of a delisting that drove up the price of a currency. Beta officially announced that it will delist FORTH/USDT (spot and futures trading) on April 1, 2026.
Small-cap coin + delisting news = funds quickly rush to pump the price. This project has been under development for a long time, but liquidity will drop significantly. There's obvious money making a final push before delisting. Bethesda is also delisting many tokens recently, so this could be a good opportunity to speculate.
CHZ
CHZ has started to move. There are still about two months until the World Cup. Generally, positive news is hyped up in advance, so I've been keeping an eye on it. However, it reached a low of around 0.034. My order was at 0.03, and I missed it by a few points. I'm ready to enter the market directly.
The price is currently rebounding and has broken through the resistance line. This may be the start of a World Cup-related rally. You can make a medium-term trade by entering low-leverage long positions in batches within the current price range of 0.036-0.034. Doubling your money shouldn't be a problem. I plan to hold it for a while.
KNC
The current price is around 0.15. After a continuous pullback, it is clearly oversold in the short term. The demand for a rebound at this level is quite strong. It is possible to make a short-term rebound trade. Overall, the risk-reward ratio is quite good at this level. Go long directly, with a target of 0.17 and a stop loss at 0.137.
