3.12 Evening Analysis

Bitcoin is currently under pressure from the MA7 and MA30 moving average resistance. The Bollinger Band midline has been effectively broken, the KDJ indicator shows a death cross pointing downward, and the short-term bullish momentum has been completely exhausted. The weak structure is clear, forming a bearish pattern of "surge and pullback-moving average turning-Bollinger opening" from the high, with the primary support below at 69800. Once broken, the target moves directly to the 69000-68800 range.

Tonight at 20:30, the U.S. Initial Jobless Claims for the week ending March 7 will be released. The previous value was 213,000, with expectations at 215,000. If the data exceeds expectations (actual value > 215,000), it will indicate cooling in the U.S. job market, the market will strengthen expectations of Federal Reserve rate cut delays, the dollar index will strengthen, which will be directly bearish for cryptocurrencies and drive Bitcoin into further pullback.

Operating Suggestions: Short at 70800-71300, Target 68800-69300.$BTC $GT $SOL