3.22 Technical Analysis: Is the BTC and ETH Weekend Spike Good or Bad?

During the weekend market movement, we saw a spike like this. Although it's not normally considered a major fluctuation, for futures trading, this spike was quite annoying. BTC spiked down to around 68, while ETH hit the support level near 2060, which aligns with previous analysis. The price action of BTC hasn't shown major declines recently. As mentioned in yesterday's video, BTC at the 69 level normally corresponds to ETH around the 2060 support level, and this just happened. For now, BTC has falsely broken through the 69 level down to 68, but the overall direction remains unchanged. Currently, we're still in a range-bound rebound scenario, so we can continue to expect rebounds next week. In reality, this fluctuation isn't considered a significant move.

BTC's spike reached near 68. Recently, the key focus should be on the support level around 68. If the market rebounds again and can stabilize above 70, the subsequent trend remains unchanged—continue to watch for rebounds. The first resistance zone to watch is the 716-722 range, and the second key level to focus on is the resistance near 736. If it breaks through and stabilizes, continue watching the 76-80 range. However, if the market fails to break upward in the next two days and completely breaks below 68, be careful—there could be further downside.

ETH's spike correctly reached the support level near 2060, which should have been touched. Recently when BTC came down, ETH kept hovering around 2100 and never actually touched this level. Based on ETH's price action, this movement is within normal parameters and hasn't exceeded expectations. The current support level is at 2060. Above that, first watch the first resistance zone at 2180-2250. During the weekend, 2180 was approached twice—first reaching 2176, then 2168, but didn't fully touch this range. This resistance needs attention. Once it breaks through and stabilizes above 2260-2320, we can then directly focus on the 2500-2600 level.