3.24 Bitcoin Morning Analysis

Yesterday, Bitcoin executed 4 trades, harvesting a total of 22,200 in profits. The afternoon saw a rebound trap for longs, and as expected, prices declined in the evening, precisely reaching the analyzed target level. Our track record speaks for itself! If you can't understand the market and your operations aren't working out, follow Lao Guo and you won't get lost.

Technical Analysis - Market Weakening Across the Board:

Daily chart has broken below the Bollinger Band midline, with the 70,000 round level breached. Short-term bearish trend is confirmed. The 4-hour cycle has formed a clear double top structure with consecutive long upper wicks and three consecutive bearish candles. Rebounds lack volume and face clear resistance. MACD green histogram continues to expand, with bearish momentum gradually strengthening. News-driven volatility is merely short-term noise and cannot alter the technical breakdown pattern. Subsequent market action should focus on shorting rebounds at higher levels as the core strategy.

Trading Recommendations

Short in batches at the 71,000-71,500 rebound zone, targeting 69,000-68,000 area. If effectively breaks below, continue shorting towards 67,000.