3.20 Friday Morning Bitcoin Latest Thoughts

Today is both the end of the week and the day of the Dragon, wishing all friends great fortune coming head-on. The market near the end of the week has continued its decline after weakening earlier, with Bitcoin dominated by short sellers yesterday - any rebound is short, and we've kept profiting from shorting all the way. Currently, the rebound strength after the decline shows weakness, today continue to watch for short continuation.

On the daily chart, another bearish candle closed, with three consecutive bearish candles retracing and breaking below the middle band support. The bearish pattern speaks for itself. On the 4-hour chart, a rise followed by a pullback, Bitcoin continuously declined through the lower band and then moved in narrow range within the lower band area, with moving averages and various indicators all in bearish arrangement. On the hourly chart, under bearish trend operations, the Bollinger Bands diverge downward, currently under pressure at the middle band area. Overall, the bearish trend is evident, rebounds lack strength, just follow the trend.

Early morning Bitcoin rebound around 70500, 71000 continue shorting, targeting 68000-67000 area below.