3.16 Monday Morning Latest Thoughts: Significant High-Level Pressure, Intraday Expectation of Pullback

The weekend has already ended, and a brand new week is quietly beginning. Wishing everyone good luck!

As usual, the weekend was spent within a range of fluctuations. Until early this morning, the bulls became somewhat aggressive and pushed the price higher, bringing Bitcoin to around 73,200 before encountering some resistance. Currently, it is oscillating around 72,500.

In the short term, the bulls have once again taken control of the market momentum. On the 4-hour chart, Bitcoin has been moving upward with the mid-band as support, fluctuating between bulls and bears. However, the bulls have attempted to break above the 74,000 resistance multiple times but have failed, indicating the strength of this resistance level. Although the bulls are strong in the short term, there has been no breakthrough. If the market cannot break through this barrier, regardless of rebounds, the overall bearish outlook remains unchanged.

This morning, Bitcoin is referenced at around 72,900, with a short position near 73,500. Watch the 71,000 to 70,000 zone below. #加密市场上涨 $BTC