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3.26 Bitcoin Afternoon Market Analysis
Bitcoin continues its morning bearish trend in the afternoon, with the price steadily declining from above 71,500, reaching a low of 69,833.7. Currently, it is rebounding around 70,041.9 and consolidating. The overall bearish structure is clear, and the rebound strength is weak.
On the 15-minute chart, the price continues to weaken along the downward channel, with moving averages in a bearish alignment. The rebound is unable to break through key resistance levels. The main trend remains bearish, and the rebound is merely a weak correction after a decline. The primary strategy remains to go short at high levels; do not chase longs.
Trading Suggestions
Sell in batches within the 71,100-71,600 range, targeting 69,500-69,000. If the 69,000 level is broken effectively, continue to look for a move down to 68,500.