Follow closely the hot topics in the crypto market, seize the best trading opportunities. Today is Thursday, March 6, 2025. I am Wang Yi Bo! Good morning to all cryptocurrency enthusiasts ☀ Followers, like and good luck! 🍗🍗🌹🌹

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The three main U.S. stock exchanges closed higher overnight, with a 1.14% increase in the Dow, a 1.46% increase in the Nasdaq, and a 1.12% increase in the S&P 500. Large-cap tech stocks rose overall, with Microsoft up more than 3%, while Tesla, Amazon, Meta, and Broadcom rose more than 2%. Cryptocurrencies, airlines, precious metals, and the mining sector led the gains, with Strategy up more than 12%, Heckler & Koch up more than 7%, JetBlue Airways up more than 6%, American Airlines and Southern Copper up more than 5%, and C-base up more than 4%. The oil and gas sector fell, with Marathon Oil falling more than 5%, Western Oil falling more than 2%, ConocoPhillips and Exxon Mobil falling almost 2%. The overall market and some alternative coins showed rebounds of different magnitudes!
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During the overnight session, the price of Bitcoin dropped to a minimum of 87550, but then quickly recovered to 91000, showing strong resistance and bullish recovery power. From a short-term technical analysis, its trend clearly shows a bullish consolidation pattern. On the 4-hour candlestick chart, Bitcoin has recovered from the temporary low of 81500, despite some corrections in the process, the bulls have firmly maintained control of the situation, continuously regaining lost ground, and the price currently remains stable above the Bollinger Moving Average. Several attached technical indicators, such as the Relative Strength Index (RSI), the Moving Average Convergence Divergence indicator (MACD), clearly show a typical bullish divergence, suggesting that there is still potential for continuation of the short-term bullish trend. However, it is important to note that the Bollinger Band is currently in a state of sideways consolidation, with candles continuously oscillating around the 88000 moving average, and the significant resistance range is between 91000 and 92200 at the top. Overall, the price of Bitcoin fluctuates within a wide range, and both bulls and bears are at a standstill, failing to achieve substantial breakthrough. In this range-fluctuation scenario, investors may consider adopting a range trading strategy, taking advantage of price fluctuations. Since intraday market volatility is expected to be limited, the non-farm payroll data to be released on Friday could be the key variable to break the current market stalemate. Investors can develop precise ultra-short-term trading strategies based on the already established short-term resistance and support levels.
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After Ethereum surged strongly from the low of 2160 in the early hours of the morning to the high of 2250, it is currently in a price correction phase. Although the token price has bounced, the overall bounce has been relatively limited, and bulls continue to face some resistance during the upward exploration process. Looking at the 4-hour candlestick chart, bulls have been continuously generating bullish candles, showing a constant upward trend, but they have not yet managed to break the key resistance at the top. The Bollinger Bands system shows signs that the moving averages are opening upwards, indicating that bullish market strength is gradually building up. At the hourly level, bulls are steadily raising prices through small bullish candles, continuously releasing bullish momentum, and after the bullish momentum, there has not been a significant correction, indicating that the current market is in a strong consolidation phase. From a short-term perspective, after a moderate correction, the Ethereum market is likely to continue its upward trend, with a high probability of an upward move in the future.