3.22 Bitcoin Midday Analysis: Bears Dominate, Rally = Short Opportunities

From the 1-hour timeframe perspective, Bitcoin has broken down below all moving averages with volume from the high of 71342.2. Short and medium-term moving averages are in bearish alignment, with rallies facing continuous pressure and obvious insufficient bullish momentum. Price lows continue to decline, falling from the 70000 range to around 68000, with the lowest touch at 67300. Rally highs are correspondingly narrowing, forming a standard descending channel.

The current market maintains weak oscillation, with minor technical rallies failing to break through key resistance levels as bears completely dominate.

Key Levels

Upper Strong Resistance: 68900–69500
Lower Core Support: 67300
If 67300 is broken, it will open further downside space, with the overall trend remaining bearish.

Trading Recommendations

Short 68900–69500 Range
Target: 67300, break and continue to watch 66500#Gate储备金报告 #特朗普向伊朗发出48小时最后通牒 $BTC $ETH