March 4 Market Analysis

Yesterday, the US stock market opened higher, and after the Nasdaq plunged over 600 points, it began to rebound. The virtual currency market did not follow the decline; it only tested the bottom briefly before starting to rebound... Currently, the market may be forming a bottoming pattern. Spot trading can still be done in batches according to the previous strategy...
ETH's price surged rapidly the day before yesterday, then retreated again yesterday, returning to a triangular consolidation zone. The previous breakout is tentatively considered a false breakout. The market is still shaking out at the bottom. The current news environment remains dominated by war concerns, so the rebound strength is definitely limited. Although there is always a risk of a sudden downward spike, I personally believe that the market will continue to rise... When trading based on news-driven market movements, be sure to control your positions carefully, watch out for sudden surges or drops, and protect your principal...
Today's trading suggestion: primarily long positions at low levels
ETH first support at 1930, second support at 1888
First resistance at 2024, second resistance at 2070
Tip: Personal advice is for reference only and does not constitute trading advice. Trading involves risks. Use stop-loss orders when opening positions #美伊局势影响