Gu Jingci: BTC/ETH Early Session Trading Strategy for 3.16 with Market Analysis

Bitcoin and Ethereum surged again from last night through the early session, reaching highs near 73,100 and 2,200 respectively. The repeated assault on recent resistance levels resulted in pullbacks, indicating significant overhead pressure. From a candlestick perspective, both the 4-hour and daily charts show that following a strong rally, the latest candle has a small body with a long upper wick, signaling strong selling pressure from above. The pullback after touching near recent highs demonstrates clear resistance being encountered.

Technically, the MACD on the 4-hour chart shows both DIF and DEA above the zero line with DIF pointing upward, indicating strong bullish momentum. However, the latest candle's closing price is slightly lower than the previous candle while the MACD value is higher, presenting potential bearish divergence signals that warrant caution. The RSI on the 4-hour chart is at elevated levels; although showing slight pullback, it still indicates the market is in a strong zone and may face short-term correction pressure.

Trading Recommendations: Bitcoin - go short near current price 72,800 to 73,300, target 70,500 to 71,500; Ethereum - go short near current price 2,180 to 2,200, target 2,080 to 2,110.
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