3.20 Morning Analysis:

Bitcoin Continues with Large Bearish Candles, Bears Dominate, Rallies Used for Shorting

As expected yesterday, bearish momentum kicked in, and the market confirmed our forecast. Today's operations remain trend-following.

From the 4-hour chart perspective, Bitcoin surged to refresh recent highs, then consecutive large bearish candles with heavy volume declined sharply, directly retesting the lower band. Weekly gains were completely reversed, and the downtrend is clear. MACD bearish momentum continues to amplify, and although bulls repeatedly defend using lower wicks, they fail to reverse the overall downward pace. Short-term trend remains bearish.

On the hourly level, after earlier fragmented yin-yang consolidation, a bearish engulfing pattern emerges swallowing the rebound space, and price explores further downside, with lows touching 69700. Although there is currently a minor bounce off the bottom, this decline is nearly seven thousand points. The market shows no effective stabilization signals, and bears maintain absolute control.

Trading Strategy: Bearish trend unchanged, maintain rally-shorting strategy, avoid blind bottom-fishing.

Short Zone: 70500-71000
Target Level: 68500, after breakdown can continue looking lower #TradFi首创多倍杠杆 #美联储维持利率不变 $BTC $ETH