March 25 Afternoon Bitcoin Analysis: Bitcoin Rebound Lacks Strength, Short-term Bearish Outlook

Although Bitcoin rebounded slightly to around 71,300 in the morning and encountered resistance before falling back, it is currently oscillating narrowly around 71,000.

On the daily chart, Bitcoin closed with a doji yesterday. If it closes bearish today, it will form an evening star bearish pattern. The K-line is running below the moving averages, short-term cycles are exerting downward pressure, and the adjustment pattern remains unchanged. The current rebound is merely a correction from oversold conditions, not a trend reversal.

On the four-hour chart, since the high of 75,998, the downtrend channel is clear, with lower highs and lower lows being established. The rebound failed to hold above 71,000 and has returned to weakness.

72,000 above is a strong resistance zone, with rebounds encountering resistance for two consecutive days and insufficient bullish momentum. The bearish bias remains unchanged.

Short around 71,500 with a target near 68,000
#Gate正式接入Polymarket