$BTC 3.23 Afternoon Bitcoin and Ethereum Market Analysis and Trading Recommendations

From the current chart structure, the daily timeframe bearish pattern has not yet experienced a substantial reversal. After completing a round of consecutive bearish candles, the price briefly entered consolidation, but rebounds remain capped by the Bollinger Band midline and have failed to form an effective recovery. Instead, the price has come under renewed pressure and is gradually testing the lower band area. This weak consolidation pattern typically indicates a lack of bullish counter-attack intention, with the market still digesting downward pressure through time rather than price movement. High-level short positions maintain logical support for continued holding under the current structure.

On the four-hour timeframe, K-lines have shown three consecutive bearish candles, presenting a typical downward push structure. Currently, the price is at a critical resistance testing stage. The 68,800 USD level is the secondary resistance that previous rebounds failed to break through and serves as an important reference point for the short-term bullish-bearish dividing line. If the price encounters resistance again at this zone, it will likely continue the weak probe-bottom rhythm, seeking further support downward. With the midline continuously declining and resistance proving effective, the short-term still retains room for pullback, and it is inadvisable to hastily determine a bottom.

Overall, whether it is the weak consolidation on the daily timeframe or the unbroken resistance on the four-hour timeframe, both point to bears still dominating. Before clear volume-breaking resistance is witnessed, short-term strategy should favor counter-trend highs for shorting, with caution advised for low-level bounce traceback attempts.

Bitcoin can short in the 69,000-69,500 range, targeting 67,000
Ethereum can short in the 2,080-2,100 range, targeting 1,980#加密行情震荡