$BTC 3.24 Midday Bitcoin and Ethereum Market Analysis and Trading Suggestions

Last night's rally looked impressive on the surface, but upon closer inspection, it showed its weakness: the price struggled to advance beyond the 72000 level, K-line bodies became increasingly short, and upper wicks kept extending longer. This pattern is a typical sign of momentum exhaustion. The bulls have basically played all their cards in this wave, yet failed to effectively break through key resistance levels. Without new catalysts, it will be difficult to mount another strong offensive.

From a timing perspective, the biggest issue with this rebound is the "quick rise, slow decline" pattern—the rally appeared fierce but lacked real sustainability, often starting to consolidate after a single bullish candle. This structure itself tends to accumulate correction pressure, as investors who chased the highs find no profits, their sentiment weakens, and the reversal from long to short can happen in an instant.

The 72000 level is crucial for two reasons: first, it's a technical resistance from previous highs, and second, it's a psychological barrier. Bulls have charged here twice and been pushed back both times, which has taken a toll on morale. The market is already showing signs of stalling gains, and hourly-level divergence is quite obvious. A pullback in early trading is nearly inevitable.

Operationally, shorting at this level makes solid logic—it aligns with the direction of short-term momentum exhaustion and hits the confirmation node of resistance. After entry, there's no need to overthink it; this type of move isn't a smooth one-way decline but rather a shock-style correction. Just wait patiently. Below, watch 70000 support first; if it breaks, the downside can extend further to around 70000.

Bitcoin can go short near 71000, target 69000
Ethereum can go short near 2160, target 2050#Gate13周年全球庆典