3.31 Tuesday Morning Market Analysis by Mufeng

In the early hours, BTC dipped to around 66,200, then quickly rebounded to 68,377 before facing resistance and pulling back. Overall, the market remains in a range-bound pattern. The ongoing Middle East tensions continue to cause risk-off sentiment fluctuations, compounded by US Treasury yield volatility, leading to intensified bullish and bearish battles. Short-term, the market shows clear signs of whipsawing.

This rally failed to break through the upper resistance zone effectively, and a clear uptrend has not yet formed. Mufeng’s view: Do not blindly chase longs on the surge; instead, rely on key resistance levels to gradually establish short positions. Be sure to strictly control position sizes, set stop-losses, and implement proper risk management.

Trading Suggestions

Short in segments within the 68,000-68,500 range, targeting 67,000; if support breaks, look for a continuation down to 66,000.