March 31 Morning Bitcoin Outlook: Weak Market, No Bottoming! Focus on Short Positions!

With the ongoing Iran conflict, the overall market trend has not changed recently. It’s unlikely to see a bullish reversal in the short term. From a daily chart perspective, the price has repeatedly broken through multiple key support levels, and the downward trend is now clear. The short-term moving averages are showing a bearish downward divergence, and a complete bearish structure has already formed.

On the 4-hour chart, the candlesticks continue to close lower, with very limited rebound strength that is difficult to sustain. The price remains below all moving averages across different timeframes, with a clear bearish alignment, and the market’s center of gravity keeps shifting downward.

The current slight rebound is merely a technical correction and does not reverse the overall downtrend. The rebound potential is likely limited.

If the price rebounds to the 67,500–67,800 range, consider entering short positions directly, with a target around 65,000. #国际油价走高