3.23 BTC/ETH Market Outlook:

Geopolitical influences caused gold to plunge immediately at Monday's opening. As the saying goes, "When cannons roar, gold is worth its weight," but this time crude oil prices soared while gold continued to decline. Bitcoin also kept falling. Last Friday, I publicly recommended short positions at 70,500 for BTC and 2,160 for ETH, allowing everyone to take profits at 68,000 and 65,000 respectively. Hopefully, everyone has benefited! For those who missed out, don’t worry—the market presents new opportunities every day. As long as the trend is correct, sooner or later you'll get in and make gains!

Bitcoin Weekly Analysis:
The weekly candle closed with an inverted hammer followed by a large bearish candle, ending a streak of two consecutive bullish weeks. The price broke below the 68,000 level. All three Bollinger Bands are opening downward with the bands trending lower, indicating increased downward space. After the lower band flattened and turned downward, it opened further to the downside. MACD remains in a strong bearish expansion. On the daily chart, after a rally to around 76,000 was met with resistance and the price retreated, breaking below the midline support. The Bollinger Bands’ lower band opened downward, creating room for further decline. The KDJ and RSI, after reaching overbought levels, formed a death cross and continued downward. MACD bearish momentum continues to expand.

Short-term 4-hour Analysis:
The price is pressing along the lower Bollinger Band, repeatedly probing below it. KDJ and RSI are at oversold levels with signs of a potential rebound, indicating a correction is needed. Do not be overly aggressive in shorting now. MACD bearish volume continues to grow. On the hourly chart, all three Bollinger Bands are opening downward. The price is being suppressed by the midline and pushed lower, causing the lower band to open further downward. The intraday strategy remains primarily bearish!

Trading Plan:
If you hold short positions from last week’s entry at 70,500, you can continue to hold and watch the 65,000 support level. For those without shorts, patiently wait for a rebound to allow the indicators to make a minor correction, then re-enter short positions at higher levels for safer entries. I won’t go into more detail here. The intraday shorting plan has already been set in motion. The rest depends on time! #Gate13周年全球庆典 $BTC