March 17th Market Analysis from LBank Derivatives | by LBank Exchange | Mar, 2023

Bitcoin

In the short term, BTC has broken through the resistance level of $23,900 and is currently hovering above it.

If it does not break below this level in the future, there is still a possibility for continued upward momentum, with resistance levels to watch out for at $26,800 and $27,660.

However, if BTC does break below $23,900, it may trigger a pullback with support levels to watch at $22,700 and $21,350.

Ethereum

$ETH has also broken through the resistance level of $1,650 and continued to rise.

If it does not break below this level in the future, there is still a possibility for continued upward momentum, with resistance levels to watch out for at $1,810 and $1,870.

However, if $ETH does break below $1,650, it may trigger a pullback with support levels to watch at $1,580 and $1,470.

Overall, the short-term outlook for $BTC and $ETH is positive if they maintain their respective resistance levels.

Investors should keep an eye on these levels to make informed trading decisions. However, a break below these levels may indicate a shift in market sentiment and trigger a pullback.

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