3.23 Bitcoin Trading Analysis

Success is not crowded on the path forward because few people can persist to the end. When you want to give up, tell yourself to hold on a bit longer, because often it's this little bit of persistence that brings you one step closer to your dreams.

Currently, the daily chart shows a bearish engulfing pattern with cloud cover reversal. MACD is forming a death cross pointing downward, RSI has entered the weak zone, and bears are dominating the trend. The 30-day moving average has shifted from support to resistance. Price is trading below the moving average with insufficient volume during rebounds. The 4-hour chart shows a clear bearish arrangement with EMA7/EMA30 forming a resistance band. Price continues to trade below the midline, with MACD green bars maintaining expansion. Multiple rebound attempts have touched the midline and fallen back with weak counterattacks from bulls. Hourly chart: The oscillation structure has shifted downward. Each rebound is lower than the previous high, with resistance layers progressively advancing. This shows typical weak downtrend characteristics.

Trading Recommendations
Bitcoin 68500-69000 short, add to position on 1000-point rebounds, stop loss at 70500, target 66500-67000. #Gate13周年全球庆典