3.16 Morning Analysis



Bitcoin surged to 71989 but faced selling pressure and pulled back. The price has been running below the Bollinger Band upper rail, with bullish momentum clearly weakening.
Both MA7 and MA30 are showing downward turning signals. The price has failed to break through the mid-rail resistance after multiple rebounds, indicating a bearish short-term trend.
Combining volume and market sentiment, the early morning session is likely to continue the weakness. Operationally, it is recommended to focus on short positions. Watch the 71800-71900 resistance level above, and the 71300-71000 support level below.

Trade Recommendation: Short from 72200-72700, target 70200-70500.
BTC2.66%
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