$BTC 3.20 Afternoon Bitcoin and Ethereum Market Analysis and Trading Suggestions

From a daily chart perspective, Bitcoin surged and pulled back yesterday, exhausting momentum after touching the resistance zone, but the price has not broken down further. Instead, it has stabilized above the middle band of the Bollinger Bands, demonstrating strong support strength. Currently, short-side volume is notably weakening, downward momentum is gradually exhausting, and the daily structure remains in a strong trend zone. The Bollinger Bands middle band serves as the dividing line between bulls and bears, and has now formed effective support. With price holding above this level, it indicates the mid-term trend remains in the hands of bulls, and near-term pullbacks are primarily technical corrections rather than trend reversals.

On the 4-hour chart, after experiencing a deep pullback, the downward momentum has clearly slowed. K-lines are continuously printing lower shadows, indicating that buying power below is actively accumulating. The structure of progressively higher lows continues to extend, price momentum is steadily moving upward, gradually breaking free from the constraints of the previous pressure zone. The moving average system is beginning to flatten and converge, with short-term moving averages poised to form a golden cross, providing technical support for a rebound. Additionally, the MACD indicator is forming a golden cross expectation below the zero line, with green bars about to turn red, showing that bulls are gathering strength and rebound momentum is building.

Overall, the market has released stabilization signals, short-side forces have exhausted, and bulls are gaining control. For afternoon operations, the strategy should follow the trend, focusing on long positions, capitalizing on the current rebound window, and monitoring whether price can further break through key resistance to open upside space.

Afternoon Bitcoin can go long near 70000, targeting 72000
Afternoon Ethereum can go long near 2110, targeting 2200#Gate13周年全球庆典