3.12 Evening Analysis

Bitcoin is currently under pressure from the MA7 and MA30 moving averages, the Bollinger Band midline has been effectively broken through, the KDJ indicator is showing a death cross pointing downward, short-term bullish momentum has been completely exhausted, and the weak structure is clear. From the high, it has formed a bearish pattern of "rally fading-moving average turning-Bollinger opening." The primary support below is 69800; if broken, we directly look toward the 69000-68800 zone.

Tonight at 20:30, the US Initial Jobless Claims for the week ending March 7 will be released, with the previous value at 213,000 and forecast at 215,000. If the data exceeds expectations (actual value > 215,000), it will show that the US job market is cooling, the market will reinforce expectations of delayed Fed rate cuts, the dollar index will strengthen, directly bearish for cryptocurrencies, and bring Bitcoin into further pullback.

Operation Suggestion: Short 70800-71300, target 68800-69300.$BTC $GT $SOL