3.23 Monday Midday Market Analysis

The market is like Hormuz's last stand. First, I want to notify all oil-consuming traders that oil prices will increase again tonight in the early morning hours. It's recommended to fill up.

At the same time, I continue to emphasize that as oil prices rise, gold will fall, and BTC and ETH risk assets will experience further significant declines. Additionally, the US-Iran strait situation will reach a critical point in 48 hours. From a trend perspective, the bias is heavily bearish!

Currently, Ethereum price is around 2060. From the four-hour chart, we can see that Ethereum is in a weak oscillating downtrend, with bears temporarily dominating. The short-term support at one hour is around 2040, which is the core defense line for bulls. MA5, MA10, and MA30 form a bearish alignment, exerting continuous pressure on price. From the candlestick chart, Bitcoin shows a clear bearish pattern. On the four-hour level, price has pulled back from highs and continuously broken support levels. The green column in MACD continues to expand, which is a typical bearish trend. Short-term bounce strength is limited. The minor support level in the short term is around 67500. If this level is effectively broken, it will accelerate downside movement!

BTC Trading Suggestion: Enter short positions around 68500, targets at 67500-66800, if broken look toward 65800, stop loss at 69300

ETH Trading Suggestion: Enter short positions around 2060-2080, targets at 2050-2000, if broken look toward 1980, stop loss at 2120$BTC $ETH $SOL