3.17 Early Morning Bitcoin and Ethereum Market Analysis and Trading Suggestions

From the current market perspective, the daily level continues to show bullish candles pushing higher, with coin prices currently rebounding back near the upper Bollinger Band rail. Although the overall trend remains in a relatively strong phase, resistance above is gradually emerging. Key resistance still lies in the upper channel rail area. If a second breakthrough cannot be formed, the short-term upside space may be limited, and the market could enter a cyclical adjustment rhythm. From the technical indicator perspective, current MACD, RSI, and other technical indicators are already in a high-level blunting state, showing that upward momentum has weakened. If the price subsequently pulls back and breaks below key support areas, it could trigger indicator death cross resonance, at which point the market may initiate a deeper pullback movement.

Regarding the four-hour chart, although there has been a rebound intraday, high positions have not been able to stand firm effectively. Multiple touches of resistance have all ended with long upper wicks, indicating that overhead selling pressure remains heavy. Currently, coin prices have not effectively recovered and held the previous uptrend channel. Short-term trading will likely revolve around the current range for another round of consolidation. The middle rail support remains the important defensive level to watch in the short term. As long as this level does not break, structurally bullish forces still have the possibility of reversal. However, it is worth noting that the four-hour level indicators show signs of high-level death crosses, and short-term adjustment pressure is accumulating. The current position is no longer suitable for blindly chasing rallies. It is recommended to wait for the market to pull back to key support areas and release some bearish sentiment before considering bullish positions at lower levels. For short-term plays, you can attempt light long positions near resistance levels to participate in short selling. Bitcoin selling can target the 74400-74900 range, with targets at 72400-72900$BTC