Technical Analysis for 3.22: BTC and ETH Weekend Wicks - Good or Bad?

During this weekend's market movement, we experienced a wick, and while it's not normally considered a major fluctuation, for futures trading, this wick was somewhat frustrating. BTC wicked down to around 68, while ETH touched the support level near 2060 - exactly where it should have according to previous analysis. The magnitude of BTC's decline hasn't been significant recently. In yesterday's video, I mentioned that the corresponding ETH position relative to BTC's level of 69 should be around 2060. The market has now delivered precisely that. BTC's wick technically pierced through 69 and reached 68, but the overall direction remains unchanged. Currently, the market remains within this range and we can continue to expect rebounds next week. These fluctuations are not considered significant moves.

For BTC's recent wick reaching around 68, pay close attention to the support level near 68. If the market rebounds and stabilizes above 70, the subsequent trend remains unchanged - we should continue watching for rebounds. The first resistance zone to monitor is the 716-722 range, while the second key node is around 736. A breakthrough and stabilization would lead us to focus on the 76-80 range. However, if the market fails to break upward in the next two days and completely breaks below 68, then caution is warranted - we may see further downside.

For ETH's wick, it reached precisely the 2060 support level as expected. This level should have been touched, and while the market had been hovering around 2100 when BTC declined, it hadn't reached this level until now. Based on ETH's trend pattern, this movement falls within normal parameters and matches our forecast. The current support point is 2060. Above that, the first resistance zone remains the 2180-2250 range. Over the weekend, the market came close to 2180 twice - reaching 2176 the first time and 2168 the second time before retreating, without fully testing this resistance. Pay attention to this resistance level. A breakthrough and stabilization above 2260-2320 would allow us to focus directly on the 2500-2600 node zone next.