BTC will maintain a "weakening rebound" assessment this evening. On short-term cycles, the 1-hour only shows limited recovery, and the 2-hour to 12-hour has not reversed the bearish structure. Overall, it remains a technical rebound correction following the decline, and will likely face resistance again—difficult to treat as a new uptrend directly. Looking at larger timeframes, the daily and above are closer to weak consolidation after a pullback from highs. The 3-day to 5-day cycles still retain some correction traces, but weekly pressure remains, so we cannot yet speak of a true strengthening.

Tonight, BTC should focus on two key levels: 70800 and 71200. 70800 is the short-term strength/weakness conversion point. If it cannot be reclaimed, the market will likely continue testing 70300 and 68800. 71200 is the daily-level long/short dividing line. If this cannot be reclaimed, the daily will continue to weaken and pull back. Only after reclaiming 70800 and stabilizing there does the short-term have the qualification to look higher at 71000 and 71600, with major resistance above at 72200.

ETH's rhythm tonight will also be handled as "rebound followed by weakness," though structurally it differs slightly from BTC. The 1-hour is mostly local patching only; the 2-hour to 12-hour still has not formed an effective trend reversal, indicating this push higher lacks continuity. Essentially, it remains a rebound correction in a weak background, not a trend reversal to bullish. On larger timeframes, the daily to 3-day still retain some prior correction foundation, but the 5-day to weekly have already returned to the weaker side, so the overall state is still weak consolidation during a pullback from highs.

Tonight's critical observation levels for ETH are 2150 and 2200. 2150 determines whether the short-term rebound can continue; if it cannot hold, we'll first check 2130 and 2100. 2200 is the dividing line for whether the daily direction changes; if it cannot be reclaimed, the daily bearish view remains unchanged. Only after reclaiming 2150 is the market allowed to further test 2160 and 2235.

Evening of March 20, 2026 (Reference levels valid for this date only)

BTC core key level: 70800
BTC daily long/short dividing line: 71200
Upside resistance: 71000, 71600
Downside support: 70300, 68800

ETH core key level: 2150
ETH daily long/short dividing line: 2200
Upside resistance: 2160, 2235
Downside support: 2130, 2100