3-14 Evening Market Analysis Bitcoin pulled back from highs, weak rebound, short bias favored
Last night, Bitcoin surged to around 73,800 where it encountered strong resistance. Bull momentum quickly deteriorated, and price dropped and oscillated around the 70,500 area. Currently, rebound strength is weak, volume continues to shrivel, the overall pattern shows high-level pressure and weak oscillation. Short-term reversal signals have not yet appeared.
From a technical structure perspective, resistance is concentrated around 72,000 above. Bulls repeatedly failed in counter-attacks. Evening operations should not chase longs or bottom fish. Maintain a primarily short bias on rebounds.
3-14 Evening Market Analysis Bitcoin pulled back from highs, weak rebound, short bias favored
Last night, Bitcoin surged to around 73,800 where it encountered strong resistance. Bull momentum quickly deteriorated, and price dropped and oscillated around the 70,500 area. Currently, rebound strength is weak, volume continues to shrivel, the overall pattern shows high-level pressure and weak oscillation. Short-term reversal signals have not yet appeared.
From a technical structure perspective, resistance is concentrated around 72,000 above. Bulls repeatedly failed in counter-attacks. Evening operations should not chase longs or bottom fish. Maintain a primarily short bias on rebounds.
Trading Recommendations
71,000–71,500 Enter short positions in batches, targets 69,000-69,500
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