March 6th Market Analysis from LBank Derivatives

LBank Exchange
3 min readMar 6, 2023



$BTC is currently in a bearish trend, having closed in the red for two weeks in a row.

The support level to keep an eye on is around $22,000 and the MACD is showing a bullish divergence at the bottom while the KDJ is trending downward. The long-term sentiment is still negative, but the short-term sentiment is unclear.

Bitcoin has been trading above the $22,000 support level for three days in a row, according to the daily chart. The MACD is currently declining in volume, whereas the KDJ is beginning to rise. The Bollinger Bands have formed a triple standstill pattern, indicating that the overall trend is shifting bullish.

$BTC is approaching the EMA15 resistance point on the 4-hour chart, and the MACD is increasing in volume, indicating a bullish trend.


In contrast, the short-term trend for $ETH is positive. According to the daily chart, $ETH has been trading above the EMA60 for three days in a row, with a balance point at $1,550 and a support level around $1,510.

The MACD is currently indicating a drop in volume, with a slight bearish divergence at the top, and the KDJ is trending downward. The Bollinger Bands have formed a lower standstill pattern, indicating that a price consolidation is possible.

The 4-hour chart shows ETH testing the EMA15 resistance level, with the MACD indicating increased volume and a golden cross forming between the DEA and DIF. The KDJ is currently in a balanced stage, indicating that market sentiment is neutral with a sideways market trend.

Overall, the market is showing mixed sentiment, with $BTC’s long-term sentiment remaining bearish while short-term sentiment remains ambiguous.

In contrast, while $ETH’s short-term sentiment is positive, the overall sentiment remains neutral with a sideways trend. Traders should monitor support and resistance levels and use technical indicators like the MACD, KDJ, and Bollinger Bands to guide their trading decisions.

LBank perpetual contracts are not inverse contracts and are settled in $USDT. Perpetual contracts have no expiration or settlement dates. We now offer perpetual contracts for $BTC, $ETH, $DOT, $SOL, and over 100 other popular cryptocurrencies.

Leverage is available in the range of 1125x. One of the primary advantages of USDT-settled contracts is the ease with which you can calculate your returns in fiat. When the market experiences a wild swing, this tool can assist you in lowering your risk.

Click here to download it for iOS or Android


Disclaimer: The opinions expressed in this blog are solely those of the writer and not of this platform.