3.15 Sunday Evening Market Analysis by Mufeng

From a daily level perspective, the weekend bulls are showing a typical choppy slow-climb pattern, with prices gradually moving upward to test resistance. After breaking through the Bollinger mid-band, the market continues to run in the mid-to-upper band area. While the rhythm appears steady, the upward momentum is clearly insufficient. Friday's spike left a long upper shadow, and although it briefly pierced the upper resistance level, it was more of a probing rally and failed to effectively open up space above.

The previous 74000 zone resistance remains extremely strong, serving as a key bullish-bearish dividing line. If this level cannot be effectively broken through for an extended period, structurally it is highly prone to forming a double-top pattern. Once the double-top is confirmed, the market will likely experience a new round of accelerated decline, with considerable pullback magnitude.

Do not be misled by short-term bounces; the major direction remains bearish. This morning's rally wave is essentially technical repair—a normal rebound after a sharp decline—and has not changed the overall downtrend structure.

Mufeng's Suggestions

BTC: Short near 72200, target 70000, break below targets 68000, long-term watch 60000!
ETH: Short near 2130, target 2060, break below targets 1950, long-term watch 1800!