March 9th Market Analysis from LBank Derivatives

Bitcoin

$BTC is still finding support in the range of $21,600 to $22,000. However, the daily candle chart indicates that it has fallen below the EMA60 position at $22,000, and has returned to a balance point.

The MACD still shows a decreasing trend, and the KDJ faces resistance as it moves upward. In the short term, the four-hour chart shows a continuous downward trend but still relies on the EMA moving average.

The MACD is showing a significant decrease, and the DIF and DEA are being restricted as they expand upward, while the KDJ is forming a golden cross.

Ethereum

On the other hand, $ETH is currently at its lowest point of $1,535 but its upward trend on the rebound is stronger than the downward trend. The EMA has already fallen below the support of $1,500.

Although the market is still in a sideways movement at this level, there is a possibility of further exploration of the downward trend.

Overall, the market seems to be indecisive and uncertain, with $BTC still seeking support in a narrow range, and $ETH showing some strength on the rebound.

However, the trend toward a further drop cannot be ruled out, and investors should exercise caution and closely monitor market developments before making any investment decisions.

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