3.20 Bitcoin Afternoon Market Analysis

From the current 15-minute trend, after the price surged to 71582.9 yesterday and faced pressure to pull back, it is now trading around 70450, displaying a weak pattern characterized by high-level consolidation.

The previous rebound failed to firmly break above the resistance line, short-term bullish momentum has weakened, price has retraced to near the medium-to-short-term moving averages, and the battle between bulls and bears is intensifying.

Key Levels to Watch:
Upper: Focus on the previous high of 71580. If it cannot be effectively broken, rebound space will be limited.
Lower: Core support at 70000. If broken, it may further test the previous low of 68755.

Trading Suggestions:
If the price rebounds to the 71000-71500 zone and faces resistance, consider arranging short positions in line with the trend, targeting 70000, with further downside targets at 69000 and below if support breaks.

Overall, afternoon price action is biased toward consolidation with a downward tendency. In terms of operations, focus on shorting bounces as the main strategy and longing dips as supplementary, strictly control position size and stop-loss levels, and avoid blindly chasing entries. $BTC #加密行情震荡 #美联储维持利率不变