March 17 BTC/ETH:

Bitcoin daily has 8 consecutive bullish candles, has the bear market turned into a bull market?

On March 18, the Federal Reserve will begin its interest rate decision meeting. Currently, WTI crude oil has broken above $100, making inflation rise inevitable. Powell is very likely to mention the risks of stagflation, which will eliminate any chance of a rate cut in March. Additionally, the Fed will release interest rate projections for the coming years. From the overall environment, future rate cuts also look pessimistic, and the market may face another sharp decline at any time!

BTC
Currently retesting the hourly support level after a breakdown, the four-hour chart shows an inverted hammer pattern, indicating a potential top in the recent rally. Resistance on the smaller timeframe is at 7450. Only if the price can break through and hold above this level will the small-term rally be confirmed as ongoing. If the price continues to pull back and breaks below 7360, the rally pattern will be invalidated. Short-term traders should watch carefully with light positions. Only if the daily closes above 8000 will the bear market be considered over.

Build positions around the 7450-7500 range, add on dips at 7600, with targets at 7360-7280; if broken below, watch for 7150-7020.

ETH
Build positions around the 2343-2368 range, defend at 2405, with targets at 2310; if broken below, watch for 2256-2203.

Short-term trading should be flexible; set stops based on your actual position size! #比特币站上7.5万美元 $BTC