3.22 Morning Analysis

From the 1-hour trend perspective, BTC has broken down through all moving averages on volume from the high of 71342.2, and the moving average system now shows a clear bearish alignment. Short-term rebounds are continuously pressured below the moving averages, with bulls unable to mount an effective counterattack. The price lows continue to decline, dropping rapidly from the 70,000 range to around 68,000, with the latest probe reaching 67,300. Rebound highs are declining in sync, forming a typical descending channel. Currently, the price is repeatedly testing near the lower Bollinger Band, and although there are minor technical bounces, they fail to break through the middle band resistance. Bearish momentum remains dominant. The 68,800-69,000 zone represents strong resistance above, while 67,300 is key support below. If support breaks effectively, it will further open downside space. The overall trend is bearish, with bounces presenting short opportunities.

Trading Suggestion: Sell zone 68,800-69,300, target 66,800-67,300.