BTC, ETH Reach Highest Levels Since February 5, Multiple Analysts Bullish on Future Market

Gate News: On March 17th, this Monday, the cryptocurrency market began to accelerate its rebound, with Bitcoin and Ethereum both reaching their highest points since February 5th.

Technical analyst Peter Brandt has issued multiple charts since March 10th, suggesting a short-term upward trend for Bitcoin. Yesterday, Peter Brandt stated that Ethereum has formed a small daily bottom within a long-term support zone, indicating that Ethereum may surge to $2,600.

Ali Charts also issued an early warning before the market rebound. At 2 a.m. Beijing time on Monday, Ali Charts indicated that the probability of Bitcoin’s rebound is as high as 100%. Yesterday, he added his Ethereum perspective, noting that Ethereum’s super trend indicator has shifted from sell to buy for the first time since September last year. When this signal appeared twice before, Ethereum’s price increased by 52% and 174%, respectively.

On the institutional side, an announcement on Monday showed that Strategy increased its Bitcoin holdings by 22,337 coins last week, while Bitmine added 60,999 ETH last week, both showing significant acceleration.

However, market analyst Garrett Jin remains pessimistic. Recently, he has repeatedly expressed concerns that the Iran situation could lead to a market crash. When asked about his views on the crypto market, Garrett Jin stated that he currently lacks enough confidence to build a position and is more inclined to trade other more obvious investment opportunities.