3.13 Morning Thoughts
If the price cannot stabilize above 84000 this week, the 7-day trend line will continue to decline. The hourly trend is limited in range, although there have been attempts to break through both upwards and downwards, it is difficult to hold. On the 4-hour chart, the price is at the upper track but the rebound lacks strength. In the one-hour level, the price is oscillating at high levels and is hard to stabilize, directly spilling down from high levels towards the lower track. Additionally, bearish volume shows a release of entities in alignment, driving the consistency of moving averages to turn down. After a downward spike, there is some recovery effect, but it is just a normal repair after a pullback. The demand for short-term adjustments is strong, and the price is oscillating within the range. Although there have been breakouts upwards and downwards, they have not been able to stabilize effectively, indicating a lack of clear direction in the market. After a rapid drop following high-level oscillation, it shows that the bullish power is insufficient, and the bearish side is dominant. In the following thoughts, we will focus on short positions.
Bitcoin: Short around 84300-83800, looking down to around 81500-81000
Ethereum: Short around 1940-1920, looking down to around 1860-1840
