3.20 Morning Analysis:

Bitcoin sustained large bearish candles with bearish dominance unchanged, rallies treated as shorting opportunities

As expected yesterday, bears unleashed their power and the market confirmed our forecast. Today's operations continue to follow the trend.

From the 4-hour perspective, Bitcoin surged to refresh recent highs followed by consecutive large bearish candles with volume expansion, directly retesting the lower band. The weekly gains have been completely reversed, and the downtrend is clear. MACD bearish momentum continues to expand, while bulls repeatedly resist relying on lower wicks, but failed to reverse the overall downward momentum. Short-term trend still leans bearish.

On the hourly timeframe, after previous consolidation with mixed small candles, a bearish engulfing pattern emerged that swallowed the rebound space, with price exploring further downside, touching a low of 69700. Although there is a minor bounce from the bottom currently, this round of decline is nearly 7000 points, and the market has not shown effective stabilization signals. Bears maintain absolute dominance.

Trading Strategy: Bearish bias unchanged, stick to fade-rally shorting strategy, avoid blind bottom-fishing.
Short zone: 70500-71000
Target level: 68500, if broken continue to look lower #TradFi首创多倍杠杆 #美联储维持利率不变 $BTC $ETH