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March 6th Morning Market Analysis
Bitcoin's upward momentum continues to weaken, and downside pressure has significantly increased. After a rally yesterday, the rebound lacked strength, and the market remains in a consolidation phase, with the overall bearish trend unchanged. Short-term bearish sentiment is strong, with resistance levels continuously moving lower, and the weak trend is very apparent.
In the short term, the market is likely to experience a slight rebound to repair, followed by renewed pressure and a decline, which is a normal correction within a downtrend. The rebound presents a selling opportunity, and it is expected that after the rebound, new lows will be made, continuing the bearish dominance.
For Bitcoin, it is recommended to short in the 71,000-71,500 range, with a target around 69,000-68,000.
For Ethereum, it is recommended to short directly in the 2,090-2,120 range, with a target around 1,900-1,950.