3.12 Bitcoin Morning Analysis

Price has pulled back after reaching a previous high of 71,777. The rebound highs are gradually decreasing, facing double resistance from the MA7 and the upper band of the Bollinger Bands. Moving averages are flat, bullish momentum is waning, and the short-term focus is shifting downward, with no breakthrough of the key resistance level yet.
The conflict between the US and Iran continues to cause disturbances, geopolitical risks are escalating, increasing market risk aversion. The battle between bulls and bears intensifies; selling pressure at high levels continues to accumulate, and the rebound strength is weak.

Operation suggestion: 70,900–71,500. Target 68,900–69,500.