Gu Jingci: 3.17 Bitcoin/Ethereum Early Morning Trading Strategy with Market Analysis

Bitcoin and Ethereum rebounded from the daytime trading session into the evening, once again breaking through recent highs and achieving eight consecutive days of bullish closes on the daily chart. This strong breakout also indicates that risks are continuously increasing. In the afternoon, I repeatedly emphasized the eight-hour and six-hour trend channels for Ethereum, with clear resistance at the 2300 level. Although the price surged above 2300 multiple times in the evening, it did not stabilize above that level. Bitcoin, on the other hand, reached as high as around 74,500 before beginning to decline, with no trend breakout. The four-hour and six-hour timeframes are showing signs of momentum divergence, with multiple attempts to rally accompanied by risks of pullback. Therefore, in the early morning, the main expectation remains for a decline and continued downward trend.

Early Morning Trading Recommendations: Continue shorting Bitcoin at the current price of 73,400 to 73,800, with targets of 70,500 to 71,500; continue shorting Ethereum at the current price of 2,280 to 2,300, with targets of 2,150 to 2,200.