Good morning everyone. Following two consecutive pullbacks over the weekend, BTC has been driven down from 71,000 all the way to 67,300, forming a very clear short-term downtrend channel.
From a technical structure perspective, the MACD histogram has accelerated its contraction from 142 to -251, with the bullish defense line retreating. At the weekly level, a divergence at the top has been confirmed. Combining all these signals, we are not yet at the final stage. Operationally, it is recommended to go long on bounces and avoid blindly catching falling knives!
Trading Recommendations: BTC: Batch short at 68,500-69,300, Target: Around 65,500 ETH: Staged shorts at 2,090-2,120, Target: Around 1,940
3.23 Monday Mufeng Morning Market Analysis
Good morning everyone. Following two consecutive pullbacks over the weekend, BTC has been driven down from 71,000 all the way to 67,300, forming a very clear short-term downtrend channel.
From a technical structure perspective, the MACD histogram has accelerated its contraction from 142 to -251, with the bullish defense line retreating. At the weekly level, a divergence at the top has been confirmed. Combining all these signals, we are not yet at the final stage. Operationally, it is recommended to go long on bounces and avoid blindly catching falling knives!
Trading Recommendations:
BTC: Batch short at 68,500-69,300, Target: Around 65,500
ETH: Staged shorts at 2,090-2,120, Target: Around 1,940