3-16 Monday Morning Analysis – Significant Resistance at High Levels, Intraday Focus on Pullbacks

A new week begins. Wishing everyone smooth trading and steady profits!

Over the weekend, the market remained within a range of fluctuations. In the early morning, bulls quickly pushed higher, with Bitcoin rising to around 73,200 before encountering resistance and pulling back. Currently, it is oscillating and consolidating around 72,500.

In the short term, the bulls are temporarily in the lead. The four-hour timeframe shows an upward oscillation relying on the middle band of the Bollinger Bands, but multiple attempts to break through 74,000 faced strong resistance and failed. Although there is rebound momentum among the bulls, there is a lack of effective breakthroughs. As long as 74,000 cannot be firmly surpassed, the overall strategy remains to prioritize short positions at high levels.

Trading Suggestions
Short in batches around 72,900–73,300, with targets downward around 71,000–70,000

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