3/23 Midday Market Analysis

The major coin's hourly chart shows continuous lower highs and lower lows, clearly indicating a downtrend. Counter-trend operations are not recommended. If you insist on counter-trend trading, be fully prepared to accept stop losses and avoid major losses from small mistakes.

Originally expected a small double bottom formation at key levels. On the second dip to 68188, it quickly recovered, briefly matching double bottom characteristics. However, the next 3 consecutive candles failed to hold above 69017, indicating this is not a bottom formation—just a short-term buying rebound triggered by new lows. Subsequently breaking below 68190 support and creating new lows, the trend fully aligns with a gradual decline logic.

The current market has not displayed a bottom stop signal. There's neither significant wicking down for exploration nor higher highs appearing. Stop loss signals remain absent. If prices run below 68190 for an extended period, the previous low of 67310 will likely fail to hold. After breaking through, watch for 66588. Avoid blindly buying the dip.

Operation Recommendations:
• Volume breakout above 68196; pursue longs on retest confirmation, catching rebounds

• Volume breakdown below 67513; if it fails to hold on retest, pursue shorts with strict stop losses
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