Crypto Trader Mr. Coin: 3.16 Bitcoin (BTC) Market Analysis Reference

Let's first look at the short-term perspective. On the 1-hour timeframe, we just saw a candlestick with a long upper wick, touching nearly 71971 at its peak before rapidly pulling back. Currently, at the 72000 round number level, there's extremely heavy selling pressure. For the short term to break through directly seems unlikely—we can expect adjustment and testing. However, if we extend the timeframe a bit and look at the daily level, the picture is completely different.

The daily chart has already closed 3 consecutive positive candles, and today's candlestick has solidly broken through the previous resistance high at 71213.5. Looking at this structure: breaking the previous high, pulling back, then rising again—this is a very standard ascending N-pattern, a classic bullish signal.

So the current market is interesting: short-term and long-term are conflicting. From a technical perspective, on the 1-hour MACD, you can see the DIF line has crossed below the DEA line, forming a death cross at a high level—this is indeed a correction signal. But here's the key: looking at the daily MACD, the energy histogram has turned from negative to positive and is now red. What does this mean? It means the bullish momentum in the larger timeframe has started to activate.

Looking at the moving averages, EMA7, EMA30, and EMA120 are currently in a bullish alignment, and price is steadily running above them. So my view on the upcoming market is: short-term has correction demands to digest the selling pressure around 72000; but the bullish trend in the larger timeframe hasn't changed. In such situations, if the short-term can retest the moving averages and stabilize, it could be a viable opportunity point. Follow Mr. Coin for real-time market analysis updates.

3.16 Bitcoin Short-term Reference:
71800-72800 range long, defend 74500 target, stop loss 500 points, goal 708500 below; 69300-68300 range short, goal 70300 above, stop loss 500

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