$BTC 3.23 Afternoon Bitcoin and Ethereum Market Analysis and Trading Recommendations

From the current chart structure, the daily bearish pattern has not shown substantial reversal. After completing a round of consecutive down moves, the price briefly entered consolidation, but rebounds remain constrained by the middle band of the Bollinger Bands, failing to form effective recovery. Instead, it has come under renewed pressure and fallen again, gradually testing the lower band area. This weak consolidation pattern typically indicates a lack of counter-attack intent from bulls, with the market still digesting downward pressure through time for space. Short positions at high levels have logical support to continue holding under the current structure.

On the 4-hour level, candlesticks have formed three consecutive bearish candles, displaying a typical downward advancing structure. Currently, the price is at a critical pressure testing stage. Around 68,800 USDT is a secondary resistance level where previous rebounds failed to break through, and also an important reference point for short-term bullish/bearish division. If the price is blocked again at this area, there is a high probability of continuing the weak exploration of bottoms, seeking further support downward. With the middle band continuously declining and effective suppression in place, short-term downside space still exists. One should not hastily judge the bottom.

Overall, whether it's the weak consolidation on the daily level or unbroken suppression on the 4-hour level, both point to bears remaining dominant. Before seeing a clear volume breakout of the resistance area, short-term thinking should focus on selling into bounces, with caution required for rebounding at low levels.

Bitcoin: Short in the 69,000-69,500 range, target 67,000
Ethereum: Short in the 2,080-2,100 range, target 1,980#加密行情震荡