3.11 Latest Analysis of BTC Market: Major Decline in Market Forces, Has Bitcoin Entered a Bear Market Lurking Cycle?

In recent days, the price of Bitcoin has once again suffered setbacks, with insufficient bullish momentum leading to another decline in the market. After a minor repair and adjustment, the overall trend cycle has not improved, and it is likely that the market will continue to explore lower levels. Following last night's market plunge, today's market has begun to repair and consolidate. Overall, the market is under pressure around the 80,000 line, and after completion of the repair, the bullish side has also been released. Looking at the hourly technical indicators, KDJ has formed a dead cross, with bullish momentum slowing down, and high points continuously moving downwards, repeatedly testing lower levels. There are still no signs of a bottoming out, with strong support at 78,000; if this support is broken, the market could plummet significantly. The overall trend has not reversed, and we are waiting for a rebound in the market to arrange short positions at high levels. The overall trend remains unchanged, and the current market is testing patience and mentality. Boldly predicting that the market will face further declines after hitting the upper resistance! The bullish rebound is weak, and no signs of a bottoming out have been observed; this illusion of rising at low levels is a nightmare for the bulls!

Evening Bitcoin Strategy: Arrange short positions near 81,500-82,300, targeting the 79,000-77,800 range, with a stop loss of 800 points.

Ethereum Strategy: Continue to arrange short positions at 1,930-1,970, targeting 1,800-1,720, with a stop loss of 50 points.