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$BTC $ETH 3.30 Monday Afternoon BTC/ETH Market Outlook from Awei
From the weekly chart, Bitcoin has closed lower for two consecutive weeks, both with long upper shadows, and each week's close is lower than the previous one. This indicates heavy selling pressure above and that the bulls have little momentum to sustain. Essentially, the structure shows—price can't go higher, and the bears are gradually taking control of the pace.
This week is likely to continue the weak trend, with a high probability of a third consecutive weekly decline. Short-term, a strong rebound is quite difficult.
The trading approach is simple: any rebound is an opportunity to short.
BTC: Short in batches within the 67,700-68,500 range, target 65,500
ETH: Short in batches within the 2,070-2,090 range, target 1,950
One sentence summary: Now is not the time to bet on a bullish rally. Following the bear’s rhythm makes it easier to profit.