$BTC 3.23 Midday Bitcoin and Ethereum Market Analysis and Trading Recommendations
From the current chart technical pattern, the 4-hour level trend has clearly established a bearish dominant structure. After consecutive bearish candles form a downtrend channel, bearish momentum shows no signs of exhaustion. Following a brief consolidation, prices come under renewed pressure at lower levels, indicating that selling pressure remains in absolute control of the market. Current market sentiment leans toward panic, with prices continuously running lower in the lower price range, and key support levels repeatedly facing tests with questionable support effectiveness.
Although the hourly level shows minor pullbacks that provide some restraint to the short-term downtrend, the rebound strength and sustainability are clearly insufficient, with no structural reversal signals yet appearing. The overhead resistance pattern gradually becomes clearer, with lower highs progressively forming, further reinforcing the continuation of the downtrend. Before seeing effective volume-backed rebounds or bottom structure confirmation, any rebound can be viewed as short-term correction rather than trend reversal.
Overall, the bearish trend is still in a deepening phase. Operationally, continuation of shorting on rallies should remain the core strategy. It is recommended to closely monitor real-time market movements, combine key support and resistance levels, and flexibly capture shorting opportunities as rebounds encounter resistance. Under current market conditions, trading with the trend and strict risk management remain key to sound trading.
For BTC midday: Short around 68500, target 67000 For ETH midday: Short around 2070, target 1980#Gate13周年全球庆典
$BTC 3.23 Midday Bitcoin and Ethereum Market Analysis and Trading Recommendations
From the current chart technical pattern, the 4-hour level trend has clearly established a bearish dominant structure. After consecutive bearish candles form a downtrend channel, bearish momentum shows no signs of exhaustion. Following a brief consolidation, prices come under renewed pressure at lower levels, indicating that selling pressure remains in absolute control of the market. Current market sentiment leans toward panic, with prices continuously running lower in the lower price range, and key support levels repeatedly facing tests with questionable support effectiveness.
Although the hourly level shows minor pullbacks that provide some restraint to the short-term downtrend, the rebound strength and sustainability are clearly insufficient, with no structural reversal signals yet appearing. The overhead resistance pattern gradually becomes clearer, with lower highs progressively forming, further reinforcing the continuation of the downtrend. Before seeing effective volume-backed rebounds or bottom structure confirmation, any rebound can be viewed as short-term correction rather than trend reversal.
Overall, the bearish trend is still in a deepening phase. Operationally, continuation of shorting on rallies should remain the core strategy. It is recommended to closely monitor real-time market movements, combine key support and resistance levels, and flexibly capture shorting opportunities as rebounds encounter resistance. Under current market conditions, trading with the trend and strict risk management remain key to sound trading.
For BTC midday: Short around 68500, target 67000
For ETH midday: Short around 2070, target 1980#Gate13周年全球庆典