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3.19 Thursday Morning BTC Latest Analysis: Downtrend Not Yet Complete, Slight Rebound Continue to Short
Yesterday was a feast for the bears, another round of sharp decline opened up further downside space, dropping from 74600 all the way down to 70400. Our persistence finally paid off, with BTC currently oscillating around 71300.
Currently, the daily chart shows a large bearish candle, consecutive bearish candles pulling back to confirm the 76000 top signal, moving averages and all indicators point to bearish sentiment with a taste of further continuation. On the 4-hour chart, a continuous bearish candle downtrend with consecutive volume expansion has broken through the lower band, the short-term structure weakens again, meaning a bearish trend has formed. Follow the trend in strategy.
In the morning, can reference shorting around 71500 and 72000, with downside targets at 70000-68000 range. $BTC