$BTC 3.20 Midday Bitcoin and Ethereum Market Analysis and Trading Recommendations

The short-term cycle trend further validates the resilience of the downtrend. The 4-hour chart has experienced a spike and pullback, then the price ruthlessly pierced through the lower band with no effective rebound resistance. Instead, it continues to oscillate in extremely narrow ranges at low levels. This is not a bottom formation; this is a "gear shift" in the downtrend continuation. The moving average system has formed a perfect bearish divergence arrangement, with MACD and other indicators refusing to form a cross above zero line and continuing to increase volume downward. Under such technical patterns, any attempt to catch the bottom is like a moth flying into the flame.

The hourly chart takes "weak rebounds" to the extreme. The Bollinger Band channel opens downward as a whole, with prices constantly suppressed below the middle band. This means every brief micro-recovery will immediately encounter strong selling pressure, and even touching the middle band becomes a luxury. This extremely weak consolidation often accumulates momentum for the next round of decline; the longer it consolidates, the deeper the fall.

Operationally, one must maintain strategic composure and stick to the core idea of shorting rebounds. The current market bearish trend is clear, and following the trend is the only survival rule. Don't be deceived by small spikes during the downtrend, and never attempt to guess where the bottom is. Before the bearish structure shows clear reversal signals (such as volume-driven bullish candles breaking above key resistance levels), everything that "looks very low" is a trap.

Bitcoin can short in the 70600-71000 range, with targets looking at 69000
Ethereum can short in the 2170-2190 range, with targets looking at 2060#Gate13周年全球庆典