3.3 Morning Thoughts

The 70,000 level has already given two chances, but the bulls haven't stabilized. Unable to push higher, it’s inherently weak. The result is a lack of momentum in the upward attack, followed by sideways consolidation with choppy candles, the pace slowing down more and more, and the rebounds losing strength. In this state, frankly, it’s not about a reversal but more like it’s unable to move up.

Looking at the hourly chart, the moving averages have already turned downward, and the structure is very clear — the bears are gradually gaining strength. The current sideways movement is not stable but a test of time. The longer it consolidates, the bigger the space often becomes once it breaks downward later.

Many people see “no decline” and think it’s about to rise, but actually, this is the easiest time to be led by the market. Trends are not created by one or two bullish candles, but by a gradual structural development. Before the key resistance levels are truly broken, rebounds are more likely to give opportunities for short sellers.

Reference strategy:
Bitcoin: Short around 69,600—70,500, target 68,000, if broken downward, target 66,000.
Altcoins: Short around 2,050—2,100, target 1,950, if broken downward, target 1,900.

Participate with light positions, set proper stop-losses, and don’t mess up the rhythm. If the direction hasn’t changed, follow the original plan. #贵金原油价格飙升 #比特币避险属性 #Gate广场发帖领五万美金红包 #当前行情抄底还是观望？ #币圈生存指南 $BTC $ETH