Gu Jingci: 3.19 Bitcoin/Ethereum Operating Strategy with Market Analysis

Bitcoin/Ethereum: Yesterday evening's market action saw short positions established near 72500 and 2250 during the downtrend phase, with the market probing down to around 70500 and 2150. The overall movement range was quite decent. Currently, the market is showing some pullback and rebound, but a rebound does not equal a reversal. The trend has broken down, and the rebound merely provides another opportunity for shorts to re-enter. From a K-line pattern perspective, the 4-hour chart shows a large bearish candle with massive volume appearing yesterday evening, confirming the end of the previous uptrend and the beginning of a pullback. The following two 4-hour K-line candles show modest bullish rebounds with small real bodies, indicating the market is attempting to stabilize after a sharp decline, but the rebound strength is limited.

From a technical indicator standpoint on the 4-hour chart, the MACD DIF line has crossed below the DEA line, the MACD histogram shows negative values, and both DIF and DEA are trading below the zero axis, signaling a short-term bearish bias with downward momentum still being released. Additionally, the current rebound's trading volume shows a declining trend, suggesting that the current rebound lacks strong buying support and may only be a technical rebound in the downtrend.

Trading Recommendations: Bitcoin continue shorting near 71500 to 72000, targeting around 69000 to 70000; Ethereum continue shorting near 2220 to 2240, targeting around 2120 to 2160.

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