3.22 Technical Analysis: Was the BTC and ETH Weekend Wick Good or Bad?

With this wick during the weekend market, although it's not considered a significant fluctuation in normal terms, for futures trading, this wick is quite annoying. BTC directly wicked down to around 68, and ETH hit exactly near the 2060 support level. The previous movement range of altcoins wasn't that large. In yesterday's video analysis, I mentioned that normally, altcoins at the 2060 level correspond to BTC's 69 level. This happened exactly as expected. Currently, BTC wicked through 69 and reached 68, but the overall direction hasn't changed. We're still within this range-bound rebound scenario, so next week we can still expect a continuation of the rebound. These movements aren't actually considered large fluctuations.

BTC's wick reached around 68. The key focus recently is the support level near 68. If the market rebounds again and consolidates above 70, the subsequent trend won't change—we should continue watching for rebounds. The first resistance level to watch is the 716-722 range. The second key node should focus on resistance near 736. If it breaks and consolidates, continue watching the 76-80 range. If in the next couple of days the market fails to break upward and completely breaks below 68, then pay attention—it may go even lower.

ETH's wick exactly reached the 2060 support level, which should have been hit. Recently when BTC declined, it kept hovering around 2100, failing to touch this area. Based on ETH's trend, this movement is within normal scope and hasn't exceeded expectations. The current support level is at 2060. Looking upward, first watch the 2180-2250 resistance range. Over the weekend, 2180 was nearly touched twice—first at 2176, then at 2168 before pulling back. This resistance level needs attention. If it breaks and consolidates above 2260-2320, then we can directly focus on the 2500-2600 node level next.