March 30 Evening Market Analysis

Currently, Bitcoin rebounded strongly after dropping to the low point of 65,000, forming a long upper shadow shooting star on the candlestick chart. The rally was followed by a sharp decline with increased volume, indicating heavy selling pressure above. This is a typical pattern of major players inducing a rally to trap and distribute. The bullish momentum has been completely exhausted. Previously, the 68,000 level shifted from support to resistance, turning from a strong support into a strong resistance level. Trading shorts in this range offers a high safety margin and an excellent risk-reward ratio.

In the short term, market sentiment appears to be a false recovery. The hourly rebound lacks volume, and the MACD remains below the zero line, indicating a clear downtrend. There is strong demand for a pullback, so avoid blindly chasing higher prices to buy in.

Trading Suggestions

Gradually establish short positions around 67,600-68,000 for Bitcoin, with short-term targets near 65,500-66,000, and a break below targeting 63,000.

Enter short positions in batches around 2,060-2,080 for Ethereum, following Bitcoin’s weak trend. The target is near 1,900-1,950, with further decline toward 1,830 if broken.