3.22 Sunday Morning Bitcoin Trading Strategy

Weekend markets are always quiet, characterized by fluctuations with a relatively limited range. Yesterday experienced narrow-band oscillations during the day, followed by a small rebound in the evening. After reaching 710, it continued to oscillate downward to the 6885 area. Although the movement was gradual, it aligns with our expectations.

On the 4-hour chart, the Bollinger Bands continue to narrow. The short-term upside faces resistance from the midline. Within the short-term range pattern, it's not difficult to see that the overall trend remains dominated by bearish sentiment. On the hourly chart, a continuous series of bearish candles has retested, and the current large-volume bearish candlestick confirms the bearish pattern once again. However, considering it's the weekend, single-sided movements are unlikely, so it's better to participate only in short-term trades. Currently, Bitcoin is at a low position, so excessive selling into weakness is not advisable. For today, we first look for rebounds; after going up, then establish short positions.

Short-term focus on the 6800 level. If it doesn't break below, we rely on this area for longs. Upper target around 7000 area. If it goes up without continuation, directly short.