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3-20 Morning Market Analysis
After the recent downturn, the current market shows insufficient rebound momentum, with bulls lacking strength in counterattacks. Today we continue to expect the bearish trend to persist.
From the 4-hour level perspective, after BTC tested the recent high, it came back down with consecutive large bearish candles with increased volume, directly probing the lower support level. The gains from the past week have been almost completely erased, and the downtrend is clear and evident.
The MACD bearish energy histogram continues to expand, and although bulls have repeatedly attempted resistance with lower wicks, they remain unable to reverse the overall downward momentum. Short-term rebound strength is weak, and the overall pattern remains biased toward bears.
Trading Recommendations
Bitcoin: Short in batches in the 70600-71000 range, targeting 69000-68000 area
Ethereum: Short in batches in the 2160-2180 range, targeting 2050-2100 area