From a 4-hour perspective, the market has continuously closed bearish candles and tested lower levels, with a clear downtrend in the short term. The previous key support level of 67300 has been tested, and while there is a rebound currently, the volume remains persistently weak, failing to form an effective reversal pattern. This is merely a technical weak retracement, not a reversal signal.
Comprehensively speaking, the weekly timeframe shows bearish divergence at the top, daily timeframe confirms a top formation, 4-hour downtrend channel with weak rebound on low volume, multiple moving averages all broken down, price center of gravity continues to shift lower, and the overall structure is running weak.
Bearish bias remains unchanged; simply establish short positions on rallies.
**Operating Suggestions**
BTC: Establish short positions in batches in the 68500-69000 zone, targeting the 66500-67500 area nearby. If support breaks, continue looking lower to 66000.
3-23 Morning Analysis
From a 4-hour perspective, the market has continuously closed bearish candles and tested lower levels, with a clear downtrend in the short term. The previous key support level of 67300 has been tested, and while there is a rebound currently, the volume remains persistently weak, failing to form an effective reversal pattern. This is merely a technical weak retracement, not a reversal signal.
Comprehensively speaking, the weekly timeframe shows bearish divergence at the top, daily timeframe confirms a top formation, 4-hour downtrend channel with weak rebound on low volume, multiple moving averages all broken down, price center of gravity continues to shift lower, and the overall structure is running weak.
Bearish bias remains unchanged; simply establish short positions on rallies.
**Operating Suggestions**
BTC: Establish short positions in batches in the 68500-69000 zone, targeting the 66500-67500 area nearby. If support breaks, continue looking lower to 66000.