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3.20 Friday Morning Market Analysis by Mufeng
The intraday price faced pressure and fell back from the 72,000 level, touching a low of 68,800, currently rebounding around 70,000.
The daily chart shows three consecutive bearish candles with increasing volume moving downward, with bearish sentiment dominating the market; four-hour consecutive bearish decline, with rebound strength continuing to be weak, bullish momentum has been exhausted. Short-term counter-rallies are continuously suppressed by bears. Intraday trading suggestion: establish high short positions!
Trading Strategy:
BTC: Batch short positions at 70,800-71,600, targets at 68,900, 68,300, 65,500
ETH: Batch short positions at 2,180-2,220, targets at 2,100-2,000