3.14 Saturday, Upside Pressure, Rebounds Continue to Short

On Friday, at a key node, BTC attempted to break through the previous high of 74000 again but failed to achieve an effective breakthrough. Subsequently, it declined and has now returned to the 70800 area. Although there has been some pullback in the short term, it has not stabilized effectively. Upside faces pressure, and the market outlook remains bearish.

The current market rhythm is characterized by wide-range oscillations and periodic adjustments following sharp declines. After retesting the upper resistance of 74000 yesterday without success, the price moved lower. Upper resistance remains robust. From a K-line perspective, following consecutive gains, price action is encountering resistance at higher levels, with bearish pressure evident. The daily K-line shows a lengthy bearish candle with insufficient bullish momentum. The rapid pullback from higher levels suggests we should watch for potential reversals and declines. We can look to short at elevated levels, with near-term support around the recent low of 63000.

Saturday morning recommendation: Short BTC at 71000-71300, with targets at 69000-68000 area.

The above analysis is merely a personal perspective. All viewers are welcome to discuss! Investment carries risk; proceed with caution when entering the market. There are no shortcuts in trading. Don't pursue overnight riches; steady and methodical approaches lead home. Wishing everyone smooth trading!
$BTC