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《March 19th Market Analysis: Where to Short on the Crash, When to Trade the Range?》
I warned yesterday to be careful of the dog whale's nasty move up to 71000, and the short position I opened on Monday was also a reminder for everyone to take profits yesterday. Since the short position captured good gains, the advantage is back in my hands for the next trade. On the daily chart, the closing line here definitely won't look good, so we need to watch the effect of key resistance levels. Also, the daily trendline hasn't been broken yet. So the overall daily chart continues to consolidate, the trending move hasn't arrived yet, short at high levels and long at low levels to trade the range.
$BTC Resistance is between 73200-73600, if it can't break through here we need to be careful of pullback moves, support below at 69500, 67700.
$SOL Bitcoin rebounded around 89 as mentioned yesterday, currently if pressure at 93.7 can't break through be careful of pullbacks, support below between 84.9-84.
$ETH Ethereum's pressure is at 2305, if it can't break through continue to be careful of pullbacks, support below at 2088, 2008.
In summary, the daily chart once again rejected the start of a trend, the overall daily pattern is ugly again. Given that the daily uptrend line hasn't been broken, it's clearly still in a consolidation range, not enough for a trending move to occur. Since that's the case, we can only short at high levels and long at low levels to trade the range. Grasp the key levels, control profits and losses, and boldly trade the range! (Follow me for daily market analysis and precise order entry points, long and short ideas are for reference only, strictly follow stop losses and take profits.)