Bitcoin and Ethereum Market Analysis (March 31st): Key Points for BTC and ETH Today
Market Review
BTC continued its consolidation yesterday. Powell's speech in the evening did not reveal any hawkish stance, releasing a conciliatory signal, suggesting the rate-cutting cycle may continue. However, the geopolitical situation remains unclear, and the main trend remains bearish. The 4-hour chart shows consolidation with a slight upward movement, potentially indicating a short-term rise. The hourly chart suggests a short-term pullback is needed; consider entering a long position around 67,000. The daily chart shows continued oscillation, rebounding after touching the lower edge of the oscillation range. The MACD's downward momentum is decreasing, indicating a potential rebound; long short-term long positions. The oscillation range is 65,000-72,000; look for trading opportunities within this range.
ETH is consolidating in tandem with BTC. The 4-hour MACD shows decreasing volume and weakening momentum, with no clear signal yet, awaiting further consolidation. The daily chart also shows consolidation, with weakening downward momentum, but no clear signal has yet emerged. Intraday focus should be on BTC's price action; wait for stabilization before making any decisions. The main trend remains bearish.
Intraday support and resistance levels for major cryptocurrencies:
Today's intraday market conditions: BTC support at 66500-67000, resistance at 69000-70000; ETH support at 1980-2030, resistance at 2080-2130.
