# Crypto Wave Chasing: 3.20 Bitcoin (BTC) and Ethereum (ETH) Latest Market Analysis and Insights

## Crypto Wave Chasing: 3.20 Bitcoin (BTC) Market Analysis Reference:

Following yesterday evening's analysis, Bitcoin pulled back as expected to test support levels, stabilized, and bounced slightly. Today the price touched 71300 at higher levels and faced selling pressure again, with the market entering a consolidation phase. As of publication, the price is trading around 70300. From a daily perspective, Bitcoin's current price remains above the Bollinger Band midline, but has already broken below the EMA short-term moving average, displaying a weakening consolidation pattern at higher levels. In MACD indicators, DIF and DEA lines remain above the zero axis and haven't formed a death cross, though MACD histogram bars are continuously narrowing, showing significantly diminished bullish momentum with signs of shifting bearish. In KDJ indicators, the J value has entered oversold territory, with K and D lines declining synchronously—there's a need for technical correction after short-term oversold conditions. The RSI three-line is hovering around 45, not in extreme territory, and has broken below the short-term moving average band. The MA30 at 69000 below provides weak support; if it fails to quickly recover the moving average, it will further test previous lows.

From the 4-hour perspective, Bitcoin is trading below the Bollinger Band midline, with the lower band at 68400 providing support. Overall, it's in a declining oscillation channel following the pullback from highs. In MACD, DIF and DEA lines diverge below the zero axis with gradually narrowing histogram bars, showing slightly diminished bearish momentum. In KDJ, the J value is turning upward with K and D lines rising synchronously—there's technical rebound demand after short-term oversold conditions. The RSI three-line is hovering around 40, not yet in extreme oversold territory. Focus on the Bollinger Band midline resistance at 71900 above. If the rebound fails to break through this area with volume, the 4-hour level will continue the downtrend, further testing lower support. Operationally, wait for rebounds near resistance levels without volume, then position short accordingly, targeting lower support zones. Be sure to strictly control position sizes and set stop losses during operations—avoid heavy position chasing rallies or selling dips.

## Crypto Wave Chasing: 3.20 Bitcoin Short-term Reference:

**Short positions**: 71500-72500 range, stop loss 500 points, target 70500-69500
**Long positions**: 68300-69300 range, stop loss 500 points, target 70000-71500

## Crypto Wave Chasing: 3.20 Ethereum (ETH) Market Analysis Reference:

From the 4-hour perspective, Ethereum's current price is below the EMA7/15/20/30 moving averages with the EMA120 providing weak support. The Bollinger Band midline (2224) forms strong resistance. MACD lines diverge downward crossing below the zero axis with slightly reduced bearish volume. KDJ has risen from lows, and RSI is near oversold levels. Overall, it's in a weak consolidation phase following the pullback from highs with limited short-term recovery momentum. From the 2-hour perspective, price oscillates below and above the Bollinger Band midline, with MACD showing weak bullish convergence below the zero axis, KDJ at mid-range rising, and RSI cautious. This shows weak recovery momentum after oversold conditions, but insufficient bullish strength. Comprehensively, the 4-hour bearish trend dominates while 2-hour rebound height is limited. If it fails to break 2180 and the 4-hour Bollinger Band midline resistance with volume, it will continue the downtrend, further testing 2105 or even previous lows at 2060. We recommend crypto friends manage risk well in advance.

## Crypto Wave Chasing: 3.20 Ethereum Short-term Reference:

**Short positions**: 2175-2225 range, stop loss 30 points, target 2130-2080
**Long positions**: 2055-2105 range, stop loss 30 points, target 2145-2200

**Disclaimer**: This content is originally shared by [Crypto Wave Chasing], representing personal views only. Articles are sent with delays and are for reference only—do not operate blindly! We hope everyone on their investment journey, regardless of market fluctuations, maintains their principles, staying rational and calm. #加密行情震荡 #比特币支撑阻力位分析 $BTC $ETH