3.27 Friday's Big Chen Market Analysis: $BTC
Yesterday, BTC faced overall selling pressure and continued to fluctuate downward, effectively breaking below the 70K mark and dropping to around 68000. Si Lu also reminded that the main bias is bearish, with bullish support, providing two waves that were perfectly timed for exit.
Currently, the daily chart shows a large bearish candle and presents a bearish arrangement. There is a death cross formed on the four-hour moving averages, and it is currently fluctuating around 68000, which is the focus of the struggle between bulls and bears. The short-term bearish trend has not changed, and the structure still leans bearish.
Big Chen's Operation Suggestions:
In the short term, look for rebounds in the 69500 - 70000 range to continue attempting short positions. Watch the 68000 level; if it cannot hold, it may drop to around 67000. If it further loses support, it may drop to around 65000.
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