$BTC 3.19 Early Morning Bitcoin Ethereum Market Analysis and Trading Suggestions

From the current chart structure, Bitcoin's daily-level trend has shown clear signs of weakening. After the price pulled back from previous highs under pressure, it experienced another volume-driven decline yesterday, nearly giving back the gains from the previous three trading days. Currently, the price has returned to near the center of the previous consolidation range, which means the previous breakup attempt has failed.

From the daily indicators perspective, the current technical formation is unhealthy and could even be said to be accelerating for the worse. The KDJ indicator has formed a clear bearish cross at high levels, with the three lines turning downward and diverging, indicating that market sentiment is shifting from bullish to bearish; In the MACD indicator, after the fast and slow lines hovered above the zero line, they failed to form an effective bullish cross. Currently they are in a flat consolidation state with blurred red and green bar momentum, suggesting that bullish funds lack the willingness to continue entering the market, and there is room for further downside in subsequent trading. Below, we need to pay close attention to the support situation at the daily Bollinger Band middle band. This level currently coincides with the 70,000 USD psychological round number, and will be a battleground for both bulls and bears.

Early morning BTC can short around 71,600, target 70,000
Early morning ETH can short around 2,190, target 2,100#Gate13周年全球庆典