#创作者冲榜 Volatile Roller Coaster! Bitcoin hits resistance at 68,400, Ethereum faces pressure at 2,100, waiting for volume to pick up!

Recently, Bitcoin and Ethereum have fallen into a weak oscillation and tug-of-war pattern, with bullish and bearish momentum alternating but with poor continuity. Coupled with macroeconomic bearish pressures and low market sentiment, prices have been fluctuating within a range.

From yesterday to today, the two major cryptocurrencies have shown a "rebound - encounter resistance - pullback - rebound" rhythm. Although there are signs of stabilization in the short term, the pressure remains evident, and a continued sideways trend is expected. Bitcoin initially rebounded and rose yesterday but faced resistance near $68,200, then oscillated back, wiping out all gains from the day early morning, with a low around $66,200 before stabilizing. This morning, Bitcoin rebounded again, reaching a high near $68,400 but failing to break through the previous resistance, then pulling back slightly. The current price is stable around $67,700.
Ethereum's movement is highly correlated with Bitcoin. Yesterday, it started rebounding from around $1,930, climbing to about $2,080 at its peak, then falling back in sync with Bitcoin. Early this morning, it dipped to around $2,010, then rebounded again toward the critical $2,100 level. After facing pressure, it pulled back slightly and is now consolidating around $2,065, unable to break out of the range.

On the macro level, the main reason for the current market sentiment being subdued is the continued hawkish signals from the Federal Reserve and significant outflows from crypto ETFs. The Fed's March meeting kept interest rates unchanged, with the dot plot indicating only one rate cut expected this year, pushing rate cut expectations further into the future. Powell's hawkish comments signaled "higher rates for longer," strengthening the dollar and prompting capital to exit risk assets. Meanwhile, recent large outflows from crypto ETFs—over $360 million net outflow from Bitcoin and Ethereum ETFs in a single day—further dampen market sentiment, making it difficult for prices to form a meaningful rebound.

Technically, both Bitcoin and Ethereum have halted their declines after touching the lower band of the daily chart and rebounded, showing some short-term upward momentum. However, upward pressure is also evident. On the four-hour chart, both assets have hit the upper Bollinger Band during their rebound, indicating resistance. On the hourly chart, the stochastic indicator is in overbought territory, suggesting short-term rebound momentum is insufficient and likely to be followed by a correction. Attention should be paid to the correction strength; if the correction is too large, prices may test support levels again.

Regarding key support and resistance: Bitcoin's short-term resistance is around $68,500–69,000, an area that has been tested repeatedly and requires volume to break through further to test the $70,000 level. Short-term support is around $67,000–66,500; if broken, it could retest the $65,000 low.

For Ethereum, short-term resistance is around $2,100–2,150, with $2,100 being a key psychological level that has been tested multiple times without effective breakthrough. Support below is around $2,020–1,980, which is a core support zone in the recent range.

Overall, the current crypto market sentiment remains subdued, macro bearish factors persist, and technicals show "rebound under pressure and need for correction." Bitcoin and Ethereum are unlikely to break out of the range in the near term. The market has weak continuation of bullish or bearish momentum. Trading strategies should focus on range-bound operations, using key supports and resistances for high and low entries, with strict position control. Avoid blindly chasing rallies or panicking during dips; pay close attention to the strength of corrections and key levels' gains or losses.