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March 23rd BTC/ETH "Piercing Cloud Arrow" attack — is a settlement imminent?
Tonight's Trump tweet ignited the market. A piercing cloud arrow has appeared on the technical chart — there's no need to overthink whether the news is true or false; as long as the effect is achieved, that's enough. Even if the clarification turns out to be false information, there's no way to erase the impact of this candle. The likely subsequent script is: 1. Oscillation and consolidation around the authenticity of the news (chaotic accumulation phase). 2. After the chip consolidation ends, a clear direction will emerge (a directional shakeout may occur before the move). 3. A breakout moving in the correct direction. Tonight, the focus is mainly on target 1. Subjectively, I am optimistic about this bullish run.
Bitcoin: I have repeatedly emphasized the key levels from Rice God — feel free to use them confidently. This piercing cloud arrow precisely reached around 71,400, the upper boundary of the range — incredibly accurate. Therefore, during the night session, feedback will be sought around the 69,000-71,400 midline. A normal pullback should not drop back to the lower boundary of 69,000; if it does, it indicates too many false signals. So, I recommend looking for signals near the midline to add longs. The target is to break through 71,400 and move toward 72,250-73,000. In an ideal scenario, reaching 74,400 is also possible (see the chart for details). If you don't believe in this rebound, you can reverse and open shorts at these target levels I mentioned — remember to set proper stops.
Altcoin: Due to time constraints, I will just briefly explain the direction and levels in the livestream.
I will post the Bitcoin chart later — tonight is a bit busy!