3-20 Midday Analysis - Focus on Short Positions

Bitcoin is repeatedly oscillating around 70,500, with the focus of both longs and shorts centered on whether the 70,000 support level can hold. This rebound is essentially just a technical correction within the downtrend and not a sign of trend reversal. In the context of waning expectations of rate cuts, tightening macro liquidity, and a cautious market environment, the short side remains favored in the short term, with a higher likelihood that the rebound will encounter resistance and retreat.

**Operation Recommendations**

Build short positions in batches within the 70,100–71,500 range, targeting approximately 68,000–68,500.

Short in batches within the 2,160–2,180 range, targeting approximately 2,050–2,100.