From a daily level perspective, the weekend bulls are showing a typical slow crawl pattern, with prices gradually testing upward. After breaking through the Bollinger middle band, the market continues to operate in the middle-upper band range. The rhythm appears steady, but the upward momentum is clearly insufficient. Friday's surge left a long upper shadow line—while it briefly pierced the overhead resistance level, it was more of a probing rally and did not effectively open up space above.
The previous 74000 area remains under extremely strong pressure, serving as a key pivot point between bulls and bears. If this level cannot be effectively broken through, the structure will easily form a double top pattern. Once the double top is confirmed, the market will likely experience a new round of accelerated decline, with the pullback magnitude not to be underestimated.
Do not be misled by short-term rebounds; the major direction remains bearish. This morning's rally is essentially just technical correction—a normal rebound after a sharp decline—and has not changed the overall downtrend structure.
Mufen's Suggestions
BTC: Short around 72200, targets 70000, breakdown target 68000, long-term target 60000! ETH: Short around 2130, targets 2060, breakdown target 1950, long-term target 1800!
3.15 Sunday Mufen Evening Market Analysis
From a daily level perspective, the weekend bulls are showing a typical slow crawl pattern, with prices gradually testing upward. After breaking through the Bollinger middle band, the market continues to operate in the middle-upper band range. The rhythm appears steady, but the upward momentum is clearly insufficient. Friday's surge left a long upper shadow line—while it briefly pierced the overhead resistance level, it was more of a probing rally and did not effectively open up space above.
The previous 74000 area remains under extremely strong pressure, serving as a key pivot point between bulls and bears. If this level cannot be effectively broken through, the structure will easily form a double top pattern. Once the double top is confirmed, the market will likely experience a new round of accelerated decline, with the pullback magnitude not to be underestimated.
Do not be misled by short-term rebounds; the major direction remains bearish. This morning's rally is essentially just technical correction—a normal rebound after a sharp decline—and has not changed the overall downtrend structure.
Mufen's Suggestions
BTC: Short around 72200, targets 70000, breakdown target 68000, long-term target 60000!
ETH: Short around 2130, targets 2060, breakdown target 1950, long-term target 1800!