$BTC 3.3 Afternoon Bitcoin and Ethereum Market Analysis and Trading Suggestions

The candlestick patterns continue to weaken, and support levels are becoming increasingly fragile. The chart shows consecutive bearish candles, with the price center of gravity steadily declining, and each rebound forming lower highs—this is a typical downtrend channel. This indicates that the bulls are losing momentum, while the bears are maintaining dominance in the market rhythm. Currently, the price is approaching the 30-day moving average, which serves as a mid-term critical support line. If this level fails to provide effective support, it suggests that the mid-term trend will also turn bearish.

If key support levels are broken, the downside space will open up. The 30-day moving average is the last important line of defense for the bulls. Once the price effectively closes below this support with a bearish candle, it will confirm that the mid-term trend has shifted to a downtrend. At that point, the market may trigger a new round of stop-losses and follow-through selling, fully opening the downside correction space. From the volume perspective, volume contracts during rebounds and expands during declines, further supporting the view that the market will continue to test lower levels.

In terms of strategy, maintain a bearish outlook on rallies. In a clear downtrend, contrarian bottom-fishing carries high risk. Until the price reclaims the 7-day moving average, any rebound should be viewed as a correction rather than a reversal. Focus on the struggle around the 30-day moving average; a confirmed break below it will be a further signal of strengthening bearish momentum.

In the afternoon, consider shorting Bitcoin around 68,500, with a target of 66,500.
For Ethereum, consider shorting around 2,020, with a target of 1,900.