3.16 Evening Market Analysis



Bitcoin surged to 74,444 and formed a long upper shadow, indicating resistance at higher levels and a pullback, with bullish momentum clearly weakening.

The price is under pressure at a key resistance zone. The KDJ indicator has turned at high levels and formed a death cross. The short-term moving averages are significantly diverged, indicating a strong need for technical correction.

Short-term profit-taking has led to concentrated exits, with heavy selling pressure above. The bullish momentum is insufficient to sustain the rally, and the market has entered a phase of cyclical adjustment.

Operation Suggestions

Support around 74,000–74,500, with targets of 71,500–72,000.
BTC2,62%
ETH8,36%
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