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Evening Market Analysis on March 4
Recently, the market trend has been extremely significant, with prices showing a continuous downward trend, resembling a descent on a slippery slide. Observing the K-line chart, one can see a series of continuously declining candlesticks, indicating a lack of momentum for a rebound in the market.
In terms of the struggle between bulls and bears, the bears currently hold an absolute advantage, continuously capturing territory with a fierce momentum. The bulls, on the other hand, appear powerless, like a lamb yet to wake, struggling to fend off the strong offensive from the bears, with minimal impact on pushing prices upward, unable to change the current downward trend of the market. The overall market shows a continuous downward trend, with sporadic small rebounds; however, these corrections are like fragile little umbrellas in the storm of the market, difficult to withstand. After brief corrections, the market quickly returns to decline, creating a repetitive cycle.
In response to the current market situation, afternoon trading operations should remain cautious, adhering to a high short strategy, avoiding blind long positions. One should short at high points when prices rebound to upper levels, avoiding being misled by temporary corrections into bottom-fishing operations. Maintain patience and seize the profit space brought by high short positions.
Operation Suggestions:
Bitcoin: Short in the range of 83800-84500, target 81000
Ethereum: Short in the range of 2150-2200, target 2000
