3.22 Sunday Morning Bitcoin Strategy

Weekend markets are always quiet, characterized by oscillation with limited volatility. Yesterday during the day there was narrow-range consolidation, followed by a small rebound in the evening after 710, then continuous downside oscillation to the 6885 area. The movement was slow but aligned with our expectations.

On the 4-hour chart, the Bollinger Bands keep narrowing, with short-term upside pressure from the mid-line. Within the short-term range pattern, it's still clearly dominated by bearish sentiment overall. On the hourly chart, a series of bearish candles with pullbacks, and after the current strong bearish candle, the bearish pattern is confirmed again. However, given it's the weekend, the probability of a one-way move is low, so short-term participation is preferred. Currently BTC is at low levels and shouldn't chase the decline aggressively. For intraday, we're looking for a rebound first, then short after it goes up.

Short-term focus on the 6800 area - if it holds, support from this zone for longs. Watch 7000 area above; if it goes up without continuation, short directly.