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"Market Analysis for March 27: The Focus Shifts Downward Again, Testing the Trendline Once More"
Yesterday, the market chief reminded us to watch out for a pullback after the 4-hour top pattern was established. When it reached the key support level, there was no rebound. The pullback did happen, but the rebound was too weak. Our long positions from yesterday were at Bitcoin 68400, Ethereum 2065, and 2040. Although there was some rebound, the results were below expectations, and only the first take-profit was reached. Currently, the daily chart is approaching the trendline again, and we can only pray that the trendline support still holds and that there is still an opportunity for a rebound.
$BTC Bitcoin has two support levels below, 67700 and 66600. These are the last defenses for the bulls; if broken, it indicates a trendline breakdown. Resistance levels above are 70600, 72700. Whether 70600 can rebound will determine the short-term strength of the market.
$SOL The key level for longs and shorts on Satoshi is at 88.5. Only if the hourly close exceeds this level can we look toward resistance at 90.6 and 95. Support levels below are 83.9 and 81.8.
$ETH Ethereum rebounded from the 2065 level we mentioned yesterday to the first take-profit at 2090. During the night, it rebounded again from our re-entry point at 2040. The key level for Ethereum longs and shorts is around 2095. Only if the hourly close exceeds this level can the trend shift from weak to strong, with potential resistance at 2145.
In summary, recent market conditions are once again testing the effectiveness of this trendline. A break below would signal a new downward trend. Therefore, the inability to rebound effectively recently makes us nervous. Several short-term levels may determine the market's attack and defense. Over the next couple of days, it’s advisable to focus more on right-side trading strategies for safety. (Follow the chief for daily market analysis and precise entry points. Long and short ideas are for reference only. Strict stop-loss and take-profit are essential.)