Crypto Mr. Coin: 3.23 Bitcoin (BTC) market analysis reference on the 4-hour level, consecutive bearish candles have pushed the price down from 68814 all the way to 67959, a very clear short-term downtrend channel has formed. Key support is at 67300, the level of the previous low, which has been tested once, currently bounced back but note this is just a test, no volume expansion, no reversal. Switching to the daily chart, the large bearish candle on March 19th, from 68750 to 69926, directly outlined the top profile. More critically, the bulls over the next three days didn't even touch the 71077 high, and instead formed a secondary high pullback pattern, which is a classic exhaustion of uptrend.

On indicators, we see MACD on 4-hour DIF already at -845, crossed below zero line, bearish momentum starting to transmit downward. Daily MACD histogram accelerating contraction from 142 to -251, the bulls' defense line is collapsing. On the weekly level, a bearish divergence has been confirmed, which is a medium to long-term signal that cannot be ignored. The moving average system is more intuitive. Price has now broken below all EMAs—7-day, 30-day, 120-day all lost. On the 4-hour chart, the zone from 68000 to 70316 has formed multiple resistance layers. That is to say, if rebounds cannot break through this zone, they can only be considered as pullbacks.

From a volume perspective, the sharp break on March 22nd was accompanied by 210,000 volume expansion, exceeding the 20-day average volume, which is standard volume breakout. Comparing to now, the 4-hour rebound has only around 20,000 volume, less than one-tenth of the previous high volume, typical low-volume pullback. Overall, weekly bearish divergence established, daily top structure confirmed, 4-hour in downtrend channel, low-volume pullback, all moving averages broken, key support repeatedly tested but failing to recover with volume. Currently still in a weak consolidation pattern with downward center of gravity. Operationally, bulls should wait for right-side signals, at least wait for stable support above 68000, then consider breakout of the resistance zone with volume. For bears, the idea is to wait for pullbacks to the resistance zone area, combined with divergence signals, trade with the trend. Follow Coin Mr., bringing you real-time market analysis.

3.23 Bitcoin short-term reference: 70500-71500 range shorts, defend 74500 longs, stop-loss 500 points, target below 70000 at 66500-67500 range, target above 68500, stop-loss 500 points. Note there may be delays in message delivery, strategies are for reference only, market conditions change rapidly, regardless of how confident you are in your market judgment, always set take-profit and stop-loss levels, secure your profits#Gate13周年全球庆典 #TradFi首创多倍杠杆 #创作者冲榜 $BTC $GT $ETH