$BTC 3.23 Midday Bitcoin and Ethereum Market Analysis and Trading Suggestions

From the current technical chart perspective, the 4-hour trend has clearly established a bearish-dominated pattern. After consecutive bearish candles formed a downtrend channel, bearish momentum shows no signs of exhaustion. Following brief consolidation, prices are again under pressure and testing lower levels, indicating that selling pressure remains absolutely dominant in the market. Current market sentiment is inclined toward panic, with prices continuously moving lower in the lower range area. Key support levels below are repeatedly facing tests, with questionable effectiveness of support.

The hourly timeframe shows minor pullbacks that provide some restraint on the short-term decline, but the strength and sustainability of the rebound are clearly insufficient, with no structural reversal signals emerging yet. Resistance patterns above are becoming progressively clearer, with higher lows gradually declining, further reinforcing the continuation of the downtrend. Before seeing effective volume rebounds or confirmed bottom structures, any bounce can be viewed as short-term corrections rather than trend reversals.

Overall, the bearish trend is still in a deepening phase. Operationally, we should continue with the core strategy of selling on bounces. It is recommended to closely monitor real-time market changes, combining key support and resistance levels to flexibly capture high short opportunities after rebounds encounter resistance. Under current market conditions, trading with the trend and strict risk control remain the keys to stable trading.

For midday Bitcoin, go short around 68500, targeting 67000
For midday Ethereum, go short around 2070, targeting 1980#Gate13周年全球庆典