3-20 Evening Analysis

The current market is maintaining narrow-range oscillation and consolidation. After pulling back from the highs, rebound strength continues to weaken. Overall, the market remains in a technical recovery phase following the sharp decline, with the bearish trend pattern unchanged. Recently, multiple 4-hour K-lines have closed as long-upper-shadow bearish candles, fully indicating heavy selling pressure above and severely insufficient bullish counter-attack momentum.

From a technical perspective, the 4-hour MACD double lines continue to operate below the zero axis. The DIF line has crossed below the DEA, forming a death cross with volume expansion. The bearish energy column is gradually strengthening, clearly demonstrating that the market is in a strong bearish cycle with short-term trend difficult to reverse easily. Meanwhile, trading volume remains lackluster throughout this rebound process, with weak buying follow-through intent. The rebound rally lacks volume support with poor continuity.

Operating Suggestions

Bitcoin: Short in batches in the 70600—71000 range, targeting 68000—69000 area.

Ethereum: Short in batches in the 2160—2180 range, targeting 2050—2100 area.