3-13 Morning Market Analysis

The morning sharp rally is difficult to sustain. BTC surged to the key resistance at 71900 and then quickly retreated. The rebound space is limited, with previous highs forming strong resistance. This round of rebound is only a short-term technical correction, not a trend reversal. The high-level oscillation pattern remains unchanged, with shorting at higher levels still being the core strategy!

From the chart structure perspective, the price surged higher then quickly retreated, indicating insufficient bullish momentum and heavy selling pressure above. The market is unlikely to break through previous resistance in the short term. The market overall remains in a wide-range oscillation consolidation phase, with price movements characterized mainly by pullbacks under pressure at higher levels. Operationally, avoid blindly chasing longs and strictly follow the trend-following principle.

Operation Suggestions
Short near 72000-72500, Target around 69000-69500