2026-03-23 00:03:56

# March 23 Monday Mufeng Morning Market Analysis

Good morning everyone. Following two consecutive pullbacks over the weekend, Bitcoin has been driven down from 71,000 all the way to 67,300, forming a very clear short-term downtrend channel.

From a technical structure perspective, the MACD histogram has accelerated its contraction from 142 to -251, with the bullish defense line retreating. On the weekly timeframe, a top divergence has been confirmed. Combining all these signals, we are far from the bottom at this stage. Operationally, it's recommended to play bounces on the long side and avoid blindly catching falling knives!

**Trading Recommendations:**

**Bitcoin:** Short in batches at 68,500-69,300, Target: Around 65,500

**Ethereum:** Short in stages at 2,090-2,120, Target: Around 1,940

BTC-0,86%

ETH-2,58%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

1 Likes