3.9 Bitcoin Afternoon Analysis

The 1-hour chart shows that after testing 67,749.7, the price faced resistance, and the short-term rebound momentum is weakening. From a technical perspective, the price has been declining since the high of 71,530.4, with the MA7 and MA30 showing a bearish alignment. The short-term moving averages are turning downward, pressing on the price; although the previous low of 65,569.2 provided temporary support, the rebound failed to break through the moving average resistance, indicating a weak rebound.

Combined with macro liquidity expectations being relatively tight and cautious market sentiment, there is little willingness for funds to chase higher. In summary, the short-term price is likely to continue oscillating downward.

Pay attention to the effectiveness of the 67,000 support level; a break below will further test the previous low of 65,500. Operationally, it is recommended to consider short positions around the 68,000 resistance level.

Trading suggestion: Short at 68,000-68,500, targeting 66,000-66,500.