3.22 Morning Strategy

Market Review
From early morning to morning session, BTC exhibited a "weak consolidation → accelerated breakdown" pattern. A sudden sharp drop occurred at 8 AM, forming a long lower shadow of nearly 3000 points. Bears actively pushed at critical time points with decisive stance. Currently, price has rebounded to around 69800, but momentum is weak and failed to recover the key resistance zone.

Technical Structure
The morning decline pierced through the lower edge of the previous consolidation platform, confirming an effective breakdown. After MA7 and MA30 death cross, bears maintain arrangement and continuous pressure; MACD fast line runs below the zero axis, and although momentum bars have shortened, there is no bullish divergence structure. Volume shows typical "volume increase on decline, volume decrease on rebound" characteristics, with obvious technical correction features, not a trend reversal signal.

Key Levels
Upper resistance 70500-71000 serves as the bulls-bears dividing line; solid consolidation above with volume can signal a reversal. Lower support 68500-68000 is the first critical test zone after breakdown.

Operation Strategy
Bears remain in control with rebounds facing pressure. Maintain high short positions. Conservative traders should wait for price rebound to 70500-71000 zone showing stalling signals before positioning, and closely monitor the effectiveness of 68500-68000 support below. #Gate13周年全球庆典