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3.20 Friday Mufeng Morning Market Analysis
The intraday price faced resistance at the 72,000 level and pulled back, reaching a low of 68,800. Currently, it is rebounding around 70,000.
The daily chart shows three consecutive red candles with increased volume, indicating that bearish sentiment dominates the market; the four-hour chart also shows continuous declines with red candles, and the rebound strength remains weak, with bullish momentum already exhausted. Short-term rebounds are being suppressed by the bears. The intraday trading suggestion is to go short at higher levels!
Trading Strategy:
BTC: Short in batches at 70,800-71,600, targeting 68,900, 68,300, and 65,500
ETH: Short in batches at 2,180-2,220, targeting 2,100 and 2,000