3.23 Monday Morning Market Analysis



Good morning everyone. Over the past two days, we've seen continuous pullbacks. Bitcoin has been driven down from 71,000 all the way to 67,300, and a short-term downtrend channel has clearly formed.

From a technical structure perspective, the MACD histogram has accelerated its contraction from 142 down to -251, with the bullish defense line retreating. A weekly-level divergence at the top has been confirmed. Considering all these signals combined, we are far from the bottom-fishing opportunity yet. Trading-wise, I suggest shorting on bounces rather than blindly catching the falling knife.

Trading Recommendations:
Bitcoin: Short in batches between 68,500-69,300, with targets around 65,500.
Ethereum: Short in batches between 2,090-2,120, with targets around 1,940.
BTC-1.58%
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