3.20 Market Observation: The US and China stock markets have entered a bear market range while the cryptocurrency market continues to rebound

Everyone should pay attention to the overall market trends on 3.20. Currently, the traditional financial markets are facing significant downward pressure, with the S&P index having already fallen below the original bull market support range, and is at a critical point about to break below the top consolidation zone. Meanwhile, the weekly chart of the A-share market clearly shows a double top pattern. If a valid downward breakout occurs subsequently, the market will undergo a substantial reversal from bull to bear. If you review the market performance before and after BTC peaked in the last quarter of last year, you will find that the trajectory of the A-share market resembles that time quite closely.

Against the backdrop of weak performance in the traditional stock market, many investors have started to look at BTC's future expectations towards the 50,000 position again. However, my personal judgment is exactly the opposite. In my view, the independent rebound trend currently exhibited in the cryptocurrency market has not yet reached its conclusion. A particularly clear technical signal is that ETH's price is still very steadily maintained above the EMA20 moving average, which fully indicates that the rebound pace of the cryptocurrency market is continuing to advance.