March 19 Morning

From the 1-hour cycle perspective, the price has declined significantly from its highs with volume expansion, consecutively breaking through the lower Bollinger Band and multiple short-term moving average support levels. The short-term bearish trend has been completely established. Current weak rebound strength is insufficient, with the entire rebound being pressured by moving average resistance, and volume continuously shrinking, lacking momentum support for the rebound.

On the indicator level, although KDJ shows minor recovery, it remains below the 50 midline and has not formed effective turning points or reversal signals, representing only a weak oversold correction. Price has refreshed the phase low at 70456, and the rebound failed to recover the midpoint of the previous large bearish candle, with selling pressure still relatively heavy in the market. The probability of further decline in the short term is relatively high.

Operationally, focus on selling rebound highs, using the short-term moving average resistance levels of 71600-72300 as positions to short in batches. Downside, watch the phase low at 70400 first; if it breaks effectively, further watch the 70000 round number support level. Below that, watch 69000$BTC $ETH $BTC ‌