3.27 Market Trend Analysis
Good morning, brothers. Yesterday, Bitcoin rebounded and touched 71,600 before encountering resistance and falling back. We also took advantage of this correction, gaining over 2,500 + 100 points. Currently, on the four-hour chart, there is a potential inverse head and shoulders pattern. If the neckline and key resistance are broken effectively, the market is likely to push for new highs. The second scenario is a break below the 67,000 trend line, confirming a continued correction and a move back to previous lows. Of course, a sideways consolidation is also possible. But I personally lean more towards the second scenario. This has been the point I emphasized throughout this week.
Today, focus on the 68,800 level for Bitcoin. As long as the hourly closing stays above this level, the rebound will continue, with further upward movement. Resistance levels are around 70,000, 71,600, and 72,400.
If the hourly close falls below 68,800, it indicates the rebound is losing strength, and the market may decline again. Support levels are around 68,153, 67,000, and 65,616.
For Ethereum, watch the 2,055 level. As long as the hourly close stays above this, the upward trend may continue, with resistance levels at approximately 2,094, 2,125, and 2,200.
If the hourly close drops below 2,055, it suggests the rebound lacks momentum, and the price may fall further. Support levels are around 2,034, 2,000, and 1,945.
For Solana, focus on the 86.5 level. Only if it stays above this level can the hourly chart continue to rebound, with resistance at around 88, 90, and 93.
If the hourly close falls below 86.5, the upward momentum stalls, and the price may decline again. Support levels are around 85, 82, and 80.
