March 9 BTC/ETH Market Strategy

The Supreme Leader of Iran has confirmed the son of Khamenei. After the news broke, U.S. stock futures plummeted, oil prices surged sharply in the short term, and the market interpreted this as a signal to ignore the U.S. president's requests and to escalate conflicts. The crypto market also experienced a quick adjustment, but after the dust settled, the market held up well. Small-scale sentiment exceeded expectations, so the key question is whether this is the end of the bearish phase or the beginning of a new round of correction, which will be crucial for intraday analysis.

BTC: The price quickly retreated in the early session. The support zone is between 64,135 and 65,377. Some high-risk funds entered early to acquire positions. The key to recovery today is to return above the breakout platform of 66,740-67,150. Reclaiming 67,150 would be optimistic for a correction that exhausts the bearish momentum. If it cannot break through, adding short positions at this resistance level is also an option. The large range of 67,150-69,000 is the area that needs to be tackled in this round.

ETH: Last night, during the live broadcast at 19:30, the second contract target at 1,930 was reached, and the position was closed at 1,965, which was a decent gain. After falling to 1,912 in the early session, some funds absorbed the decline. Currently, the price is still under pressure at 1,965, which is a critical resistance level. The key is whether it can stabilize here. The new support zone is between 1,875 and 1,912. Watch for a rebound to this level.

Trade Entry Ideas: After receiving buy signals in the early session, I am currently holding a BTC short position with an entry cost of 66,150. I also hold an ETH short position with an entry cost of 1,929.5. The target for the BTC short is above 67,150, and for ETH above 1,965. These are for reference only.