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3.16 Monday Morning Latest Analysis - High Position Under Pressure, Intraday Focus on Pullback
The weekend has ended, and a brand new week is quietly arriving. Wishing everyone good luck ahead!
As usual during the weekend, the market remained within the consolidation range until early this morning, when the bulls became somewhat aggressive and pulled up a wave, pushing BTC price to around 73200 before facing some pressure. It is currently oscillating around 72500.
On the short-term, bullish sentiment has regained market momentum. On the 4-hour chart, BTC has risen with the mid-track as support through multiple ups and downs. However, the bulls have tested upward multiple times and failed to break through the 74000 resistance level, demonstrating the strength of this resistance. While the short-term momentum is strong, there is no breakthrough. If the market cannot break through this barrier later, regardless of how it rebounds, the bearish outlook remains unchanged.
This morning BTC reference 72900, short around 73500, focus on 71000-70000 area below. #加密市场上涨 $BTC