3.11 Bitcoin Auntie's Morning Thoughts



Four-hour signals are clear: the price just touched the upper Bollinger Band and quickly plunged, with bullish candles' gains completely swallowed. The bullish momentum was suppressed as soon as it started, indicating the market has shifted to a bearish tone. The brief rally driven by external positive factors was just a fleeting moment and cannot shake the weak structure.

On the daily chart, the long upper shadow directly undermines the bulls' confidence. Despite two consecutive bullish candles, upward momentum is clearly lacking, and the price has yet to break through the upper Bollinger Band, indicating insufficient energy.

Overall, today's market is likely to continue consolidating and then decline again, with a bearish trend remaining dominant.

Personal suggestions:

· Bitcoin: Enter short at 70,500-71,500, target 68,000, if broken down watch for 66,000
· Auntie's Altcoin: Enter short at 2,050-2,080, target 1,980, if broken down watch for 1,900

$BTC $ETH
BTC-1,16%
ETH-1,95%
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