3.26 Bitcoin Analysis

From the 4-hour chart structure, after the price tested upward against the middle band of the Bollinger Bands, it quickly encountered resistance and pulled back. Currently, the Bollinger Bands show a downward opening pattern, and a clear downward channel has formed. This rebound attempt has basically failed. The short-term moving average system has formed a death cross and continues to diverge downward. The bearish arrangement pattern is established, with price continuously suppressed below the moving averages, indicating strong resistance above.

In terms of the MACD indicator, after the high-level death cross formed, bearish momentum gradually released, and the overall trend remains in a downward rhythm. Oscillation indicators such as RSI have also entered the weak zone, showing that the bullish counter-attack momentum is basically exhausted, and the market is now fully controlled by bears. Operationally, it is advisable to primarily set up short positions after rebounds. Currently, it is not recommended to blindly attempt to catch the bottom with longs.

Trading Suggestions

Batch short positions in the 71500-71800 range, with short-term targets focusing on the 69500-70000 zone. If the price continues to decline and effectively breaks below, further attention can be paid to the 69000 level vicinity. #crypto #比特币