From the LBank blog.
$BTC has broken below the $23,100 support level and is currently exhibiting bearish tendencies. However, there is strong support below, and it is unlikely to break through again in the near future.
Meanwhile, following the sharp decline, there may be some corrective fluctuations.
$ETH fell below the $1,620 support level and has since been in a downward trend. It has temporarily stopped falling and has slightly rebounded, but the strength of the rebound appears to be weak.
Overall, the market outlook for Bitcoin and Ethereum in the short term appears bearish, with downward momentum in play.
However, given the strong support levels below, there may be some short-term corrective fluctuations or consolidation.
Traders and investors should continue to monitor the market closely for any potential changes in trends or price movements.
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 1–125x. 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
Website: https://lbank.com
Twitter: https://twitter.com/LBank_Exchange
Facebook: https://www.facebook.com/LBank.info/
YouTube: https://www.youtube.com/c/LBankExchange
Telegram: https://t.me/LBank_en
LinkedIn: https://www.linkedin.com/company/lbank
Medium: https://medium.com/LBank
Reddit: https://www.reddit.com/r/LBank2021/
Disclaimer: The opinions expressed in this blog are solely those of the writer and not of this platform.
This article came directly from the LBank blog, found on https://lbank-exchange.medium.com/march-3rd-market-analysis-from-lbank-derivatives-f92bdd73af91?source=rss-87c24ae35186——2
