3.31 Morning Market Analysis

Bitcoin 1-hour timeframe shows a clear and obvious bearish trend. The price has fallen from a high level and broken through the middle band of the Bollinger Bands. Multiple rebounds have encountered strong resistance and failed to break through. The lower band support is becoming increasingly fragile. Currently, the bulls have no effective counterattack strength, and the overall structure remains weak and oscillating downward.

In the short term, market sentiment is bearish. With sufficient volume and downward momentum, the rebound strength is weak. Reversal signals have not yet appeared. Do not attempt to buy the dip against the trend. The key short-term support level is . If this level is effectively broken, the market could open up a larger downward space, further extending the downside.

Short-term trading should still follow the idea of shorting on rebounds. Going with the trend is the prudent choice—avoid holding onto losing positions, avoid fighting the trend, and strictly control position sizes.

Trading Suggestions:
If the price rebounds to around 67,200-67,600, consider partial short positions. The initial target is around 66,000-65,000.