Bulls Liquidate Shorts, Trump's Request for Allied Troops Rejected! 3.17 Bitcoin and Ethereum Analysis

On March 16, two senior White House officials stated that Iran has recently attempted to contact the Trump administration through multiple channels, hoping to resume diplomatic negotiations, but President Trump currently refuses to restore talks. However, Iranian Foreign Minister Araghchi denies having recent contact with Wittekoff. Regarding the Strait of Hormuz blockade news, Trump requested allies send troops to help open the Strait of Hormuz, but Germany's Defense Minister responded directly with "this is not our war." Japan and Australia clearly declined, while Britain and France remain neutral. Currently, the market may have truly underestimated this conflict, and subsequent developments could trigger panic. Although Ethereum shorts were swept yesterday and Bitcoin shorts made modest gains in two waves, today we continue bearish sentiment to see how much this conflict will actually impact!

Bitcoin's eight consecutive daily increases are mainly driven by sustained inflows into spot ETF markets propping up coin prices. However, the coin price has broken through the four-hour and hourly Bollinger upper bands, with continuous breakouts of resistance levels above. The market continues to consolidate and repair indicators, so we expect a pullback intraday first!

3.17 Short Strategy

Bitcoin at current price 74800-75300 short, conservative entry at 75600-76000, stop loss around 76500, targets at 74000-73500-73000, further breakdown targets 72500-72000-71500, continue breakdown with moving stop loss to secure profits!

Ethereum at current price 2350-2380 short, conservative entry around 2430-2450, stop loss around 2480, targets at 2300-2270-2250, further breakdown targets 2230-2200-2150, continue breakdown with moving stop loss to secure profits!

3.17 Long Strategy

Bitcoin pullback to 71000-71500 go long on position, stop loss at 70000, targets around 72500-73000-73500, further breakthrough targets 74000-74500-74800, continue breakthrough with moving stop loss to secure profits!

Ethereum pullback to 2100-2140 go long on position, stop loss around 2070, targets around 2200-2230-2250, further breakthrough targets 2270-2300-2350-2380, continue breakthrough with moving stop loss to secure profits!

If Bitcoin doesn't fall, Ethereum rallies, it feels like we're back in a bull market with major positive catalysts, but the war's impact hasn't materialized yet, so don't blindly go long. Although spot ETF inflows continue to support coin prices, subsequent pullbacks are highly likely. Therefore, use stops on positions to control risk and trade cautiously! #加密市场上涨