3.16 Monday Morning Latest Thoughts: Obvious Resistance at High Levels, Intraday Focus on Pullback

The weekend has passed, and a new week is quietly beginning. Wishing everyone smooth trading and good luck this week!

The weekend market, as usual, continued to oscillate within its range. Until early this morning, bullish sentiment warmed up, and prices rallied sharply, pushing Bitcoin to around 73200 before facing pressure. Currently, it's oscillating around 72500.

From a short-term perspective, bulls have temporarily regained some initiative. On the 4-hour chart, prices have been rising while relying on the Bollinger Middle Band for support, with bulls and bears pulling back and forth. However, it's worth noting that the resistance around 74000 remains very significant, with multiple attempts to break above failing, indicating heavy selling pressure in this area.

Therefore, the current structure shows bulls have momentum, but lacks true breakout energy. If subsequent attempts still fail to break through the key 74000 resistance, then the short-term rally can only be viewed as a corrective move, and the overall directional bias remains bearish at high levels.

Operation Reference:
Bitcoin 72900—73500 range can consider shorting
Pay attention to support in the 71000—70000 range below. #比特币站上七万美元 #AAVE换币风波 #特朗普TRUMP持有者午宴 #易理华疑似转空2.7万枚ETH #SOL现货ETF单日净流入$392万 $BTC $ETH $GT