3.29 Sunday Evening Da Chen Operation Market Analysis: $BTC $ETH
The overall weekend market continues to show weak consolidation, and the trend is in line with expectations, with light trading and a lack of effective volatility.
BTC is currently in a low-level consolidation phase after a decline. Many are eager to bottom fish and go long due to the significant drop, but it needs to be clear that this is not a reversal signal, and one should avoid going against the trend.
From the hourly structure, the coin price has repeatedly attempted to rise and then fell back, with several long upper shadows formed, and clear selling pressure above, indicating insufficient rebound sustainability. Currently, multiple tests have failed to stabilize, and reversal conditions are not yet met.
At the same time, international news reports that the situation has escalated from long-range strikes to ground warfare, expected to extend another 3-4 weeks, and previous talks have become empty promises. Clearly, the situation is dire, and Jing Yi predicts a high probability of a sharp drop when the market opens on Monday. The conflict continues to extend.
Da Chen Operation Suggestions
For Bitcoin, short positions should be laid out around 670-675-680, with targets at 663-645-638.
For Ethereum, short positions should be laid out around 2015-2040, with targets at 1960-1840-1700.
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