3.10 Midday Market Analysis! Is it time to go short now?

Currently, market experts are all calling for a short, but I sincerely advise you to hold on a bit longer! There are no signs of weakness on the hourly chart right now. Don’t rush into short positions; it’s easy to chase the lows and get trapped by the market.

At the moment, Bitcoin’s hourly lows and highs are steadily moving upward, clearly indicating a strong bullish trend. Yesterday, attempts to break above the 68,200 resistance twice failed, but after pulling back, both times the support levels held firm. It couldn’t fall further, so it naturally moved higher. Now, Bitcoin has successfully broken through a key resistance and is above 70,000. As long as it can stay above this level, it will challenge higher targets.

As long as the pullback doesn’t break below the support zone of 69,200-70,000, there won’t be a retest of lower support levels; if this zone cannot hold, then it may dip toward around 68,200. Simply put, if support holds, the price will continue to rise; if support fails, a correction is likely. Don’t prematurely guess the top and go short during an uptrend. Without clear top signals, avoid blindly entering on the left side.

$BTC Trading strategy: A volume breakout above 70,200 suggests aggressive traders can go long with the trend, setting proper stop-losses; if it drops below 69,300 with volume and then rebounds without returning above, consider short positions with stops.
If it stabilizes above 70,600 on the hourly chart, look for targets at 71,500-72,900;
On the 4-hour chart, if it breaks below 69,100, look for support at 68,300-67,600.
Resistance levels: 70,600, 71,500, 72,900
Support levels: 69,300, 68,400, 67,500

$ETH Ethereum strategy: A volume breakout above 2,050 can be a long signal; if it pulls back after breaking, stop-loss.
A volume breakdown below 2,020 can be a short signal; strictly set stop-loss.
If it retests and holds at 1,960, consider long positions; if it breaks below 1,930, stop-loss.
A rebound to 2,100 can be a light short; if it breaks above 2,140, stop-loss.
Left-side order reference: buy at 1,900, stop-loss below 1,870.
On the hourly chart, if it stabilizes above 2,050, look for targets at 2,090-2,140;
On the 4-hour chart, if it breaks below 1,998, look for support at 1,930-1,900.
Resistance levels: 2,050, 2,090, 2,140
Support levels: 2,020, 1,990, 1,950

Ethereum is currently trading within a bearish flag pattern. A breakout above 2,055 is needed to continue upward toward 2,090-2,115. There’s a possibility of forming a double-top pattern with two peaks. As long as it oscillates within the flag, it’s fine. Once it breaks below support at 1,980, the correction will officially begin.