3-20 Evening Analysis

The current market is maintaining narrow-range consolidation, with rebound strength continuing to weaken after the price pullback from highs. Overall, it remains in the technical recovery phase following the sharp decline, and the bearish trend pattern remains unchanged. Recently, multiple 4-hour K-lines have formed long upper shadow bearish candles, fully indicating heavy selling pressure overhead and severely insufficient bullish counter-attack momentum.

From a technical perspective, the 4-hour MACD dual lines continue to run below the zero axis, with the DIF line crossing below the DEA to form a bearish crossover with volume expansion. The bearish energy bars are gradually strengthening, clearly demonstrating that the market is in a strong bearish cycle, and the short-term trend is unlikely to reverse easily. Meanwhile, trading volume remains sluggish throughout this rebound process, with weak buy-side follow-through willingness and the rebound rally lacking volume support, resulting in poor sustainability.

Operation Suggestions

Bitcoin: Batch short in the 70600—71000 range, targeting the 68000—69000 area

Ethereum: Batch short in the 2160—2180 range, targeting the 2050—2100 area