March 22 BTC/ETH Strategy Update

Middle East tensions are rising again, will the strait remain open? Political actions surrounding the Strait of Hormuz continue. Technically, price has fallen back to last week's launch zone. Can the bulls hold their stronghold? Let's review today's strategy.

BTC: Yesterday's strategy highlighted the bearish pressure zone at 70960-71400, which validated the old saying "prolonged consolidation must break down" - consolidation without repair signals weakness. This morning's session saw a direct selloff due to events, touching the key support/resistance box of 67150-69000, with the upper half showing a direct signal. Therefore, today's short-term support is 68300-69000. If selling pressure stops here, it forms a double bottom signal with the March 19 night session level. The effectiveness of this signal depends on today's intraday recovery. If price can return to the mid-axis zone of 69000-71400 (698-706), we'll watch for a double bottom recovery. If it continues to break below and heads toward 67150, we should be cautious and pessimistic.

ETH: The familiar 2038-2075 zone is still delivering, I captured the first wave of bounce value here. Yesterday's tweet also suggested that if small probability events occur, you can aggressively catch bulls in this zone. This is a critical area throughout the second coin from February to now and will definitely face resistance. Currently testing 70960-71400 pressure box. Support remains at 2038-2075 below. Operationally, long positions can be entered at multiple levels. Refer to my point chart for details. $ETH ‌$BTC ‌