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

From the current chart structure perspective, the daily-level bearish pattern has not yet undergone substantial reversal. After completing a round of consecutive down moves, the price briefly entered consolidation, but rebounds have been continuously constrained by the Bollinger Band midline, failing to form effective recovery. Instead, it has fallen under pressure again and is gradually probing toward the lower band. This weak consolidation pattern typically indicates that bulls lack the intention to counterattack, with the market still digesting downward pressure through time-for-space tactics. Higher short positions have logical support for continued holding under the current structure.

On the four-hour level, K-lines have formed three consecutive bearish candles, presenting a typical downtrend structure. Currently, the market is at a critical testing phase for resistance. Around $68,800 is a secondary pressure level that previous rebounds failed to break through and serves as an important reference point for near-term bull-bear demarcation. If the price is blocked at this zone again, it will likely continue the weak probe-to-bottom rhythm and seek support further down. With the midline continuously declining and effective pressure, short-term still has pullback space; one should not hastily determine the bottom.

Overall, whether it's the weak consolidation at the daily level or the unbroken pressure at the four-hour level, both point to bears maintaining dominance. Before seeing clear volume breakthrough of the pressure zone, short-term strategy should focus on rebounds for shorting at highs, with caution advised for catching bounces at lows.

Bitcoin: Short in the 69,000-69,500 zone, target 67,000
Ethereum: Short in the 2,080-2,100 zone, target 1,980#加密行情震荡