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March 25 Midday Analysis
Bull momentum is clearly insufficient. Avoid chasing highs blindly in oscillating market conditions.
Big Bitcoin on the 4-hour level, after news-driven rallies pushed prices higher, bulls failed to sustain momentum. Last night's price action came under pressure and fell back to 68,880. Currently in an overall oscillating pattern, with rebounds being mere normal technical corrections. The short-term rebound rally has basically concluded, with limited upside space remaining.
Although Iran and the US have temporarily halted hostilities, the situation is far from truly stabilized, with potential for further escalation. Market risk-off sentiment persists, and capital's appetite for long positions remains weak, further exacerbating downside pressure on the market. Bulls lack the strength for a counterattack, so operationally we continue to maintain a primarily short bias.
March 25 Bitcoin Suggestions: Short around 71,000-71,500, targeting below 68,000.
March 25 Ethereum Suggestions: Short around 2,170-2,190, targeting 2,080.
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