Wednesday, March 25, early morning

A trade made before sleep, this morning’s rebound has successfully taken hold, and another beautiful day begins... let the music play and the dance continue!!!

From the current market situation, it has completely fallen under the control of the bears. The daily and 4-hour charts are both in a convergent downtrend, and the trend is extremely weak. Bitcoin tested 68,800 yesterday and stabilized with a rebound. It is now oscillating and consolidating between 70,000 and 70,500. The short-term moving averages have turned upward, and the price is gradually recovering from oversold levels. On the 4-hour chart, a clear downward channel has formed, and the rebound space is severely limited.

Bitcoin 🫓 is重点关注 at 70,500. If volume breaks through and holds steady above 70,500, the rebound is likely to continue above 71,000. If volume contracts and faces resistance at 70,500, the rebound will end, and caution is advised for a retest of 69,500–69,000.

Overall strategy: mainly short on rallies.

Bitcoin (BTC) short at 70,800–71,500
Target: 68,900–68,000
$BTC

Ethereum (ETH) short at 2,170–2,200
Target: 2,110–2,020
$ETH