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3.22 Bitcoin Midday Review - Bears in Control, Rally = Sell High
From the 1-hour chart perspective, Bitcoin has broken down below all moving averages with increased volume from the high of 71342.2. Short and medium-term moving averages are arranged in bearish order, with continuous selling pressure on rallies and clearly insufficient bullish momentum. Price lows are continuously declining, falling from the 70000 zone to around 68000, with a low touch of 67300. Rally highs are correspondingly narrowing, forming a standard descending channel.
The current market maintains weak volatile action, with minor technical rallies failing to break key resistance levels. Bears are in complete control.
Key Levels
Upper Strong Resistance: 68900–69500
Lower Core Support: 67300
If 67300 is broken, it will open further downside space, with the overall trend remaining bearish.
Trading Suggestions
Short the 68900–69500 zone at high points
Target: 67300, on breakdown continue to watch 66500#Gate储备金报告 #特朗普向伊朗发出48小时最后通牒 $BTC $ETH