High-position short selling offers good value; be cautious about chasing highs. From a technical perspective, the 75,000 level shows insufficient volume at the high with a long upper shadow, but the decline is also on low volume. Retail participation in this rally is very limited, so the market will likely undergo a period of sideways consolidation.
From a news perspective, crude oil prices remain the core disruptive factor. Although both the US and Iran claim the strait hasn't been closed, no oil tankers dare to take the risk. Israel plans to deploy ground forces to open a second front against Iran, so oil prices will continue to rise.
March 17 Cryptocurrency Market
High-position short selling offers good value; be cautious about chasing highs. From a technical perspective, the 75,000 level shows insufficient volume at the high with a long upper shadow, but the decline is also on low volume. Retail participation in this rally is very limited, so the market will likely undergo a period of sideways consolidation.
From a news perspective, crude oil prices remain the core disruptive factor. Although both the US and Iran claim the strait hasn't been closed, no oil tankers dare to take the risk. Israel plans to deploy ground forces to open a second front against Iran, so oil prices will continue to rise.