3.11 Wednesday Morning Bitcoin Latest Strategy

Yesterday, Bitcoin's price movement was passionate and intense, with bulls and bears fiercely contesting. During the Asian session, it moved sideways with steady upward momentum, but by evening, the bears also joined the party with a slight plunge. After falling to around 69,200 and finding support, Bitcoin rebounded to 71,700 before facing resistance and pulling back. In the early hours, it declined again to around 69,400. Regardless of bullish or bearish sentiment, the market is providing some room for movement.

Currently, Bitcoin's recent upward rally has come to a halt. Resistance is concentrated between 71,500 and 72,000, with support at 69,000. As long as this range holds, the market is expected to continue trading sideways. On the four-hour chart, Bitcoin surged and then pulled back, with a large bearish candlestick signaling the end of this rebound. Attention should be paid to the 69,000 support level; a break below could open up further downside space, while holding above indicates a range-bound trend.

Morning suggestion: Short around 70,200 and 70,700, with support levels at 69,000-68,000. A break below could target 66,500; if not broken, consider going long.