March 4th BTC/ETH MiShen Strategy
A big bullish candle, thousands of troops come to meet! The long-term box has finally shown signs of a breakout. Can it open up space above? Tonight is the most critical moment.
$BTC
BTC: Unexpectedly, it directly recaptured the target range of 69,000-71,400. Currently, it can still consolidate around the upper band of 71,400, which is strong enough. Since this range has been taken, it's best not to break below the lower band of 71,400 during the night session. Acceptable levels are a pullback and stabilization around 69,000 to the midline of 70,300. The ultimate target is the higher range of 71,400-74,400. If the bears don't trust that this can break through, they can go short around 71,400; once it breaks through, set a stop-loss. (See chart for details)
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ETH: Currently, there is a positional difference compared to Bitcoin. Bitcoin has already reached the target area, while ETH's target should be around 2,100-2,170. It is still consolidating weakly within the previous range of 2,035-2,075, which it failed to break four times earlier. Hopefully, tonight it can close the gap and push above the 2,100 mark. Support remains at 2,000-2,015. As long as support holds, bullish outlook remains optimistic. If bears don't believe this rally, they can short around 2,075-2,100; once it breaks 2,100, remember to set a stop-loss and exit. (See chart for details)
For more content, stay tuned for tonight's 22:00 "MiShen Live Trading" session!