3.12

In the early morning, Bitcoin surged to around 71,300, but was quickly pushed down by strong resistance, then retreated to retest the key support at the W bottom, falling into a narrow range of consolidation. In the short term, bullish momentum has significantly weakened, selling pressure at higher levels is gradually increasing, and the overall market shows a high-level oscillation with a weak pattern.

From the 4-hour chart perspective, the resistance zone above is quite clear. If it cannot break through with volume and stabilize, the market is likely to continue its sideways downward trend. Trading strategy should focus on shorting rebounds and buying dips, strictly controlling position sizes and stop-losses, closely monitoring key support breaks, and flexibly adjusting trading ideas.

Bitcoin (大饼) is recommended around 70,500-71,100, with a target of 69,500-68,000.

Altcoins (姨太) are recommended around 2,070-2,100, with a target of 2,000-1,900. #Gate蓝龙虾重磅上线 #伊朗在霍尔木兹海峡布设水雷 #原油价格回落