3.26 Bitcoin Analysis

From the 4-hour chart structure perspective, the price encountered resistance and quickly pulled back after testing the middle band of the Bollinger Bands upward. Currently, the Bollinger Bands are showing a downward-opening formation, and a clear downtrend channel has formed. This rebound attempt has essentially failed. The short-term moving average system has formed a death cross and continues to diverge downward, establishing a bearish alignment pattern. Price continues to be suppressed below the moving averages, indicating strong resistance from above.

In terms of MACD indicators, bearish momentum has gradually released following the death cross at high levels, with the overall trend still in a downward rhythm. Oscillating indicators such as RSI have also entered a weak zone, showing that bullish counterattack momentum has been largely exhausted, and the market is now fully controlled by bears. Operationally, it's advisable to primarily layout short positions after bounces, and it's not recommended to blindly attempt to catch the bottom with longs.

Operational Recommendations

Short in batches in the 71500-71800 range, with short-term targets focusing on the 69500-70000 area. If the price continues to decline and breaks through effectively, we can further look toward the vicinity of the 69000 level. #Crypto #比特币