3.20 Friday Afternoon BTC Analysis - Weak Rebound, Favoring Short Positions
The short term maintains a consolidation pattern, with near-term resistance at 71,000.
On the 4-hour chart, following the decline, there has been a minor rebound in the short term, but it failed to continue the trend. The price is currently moving within a range formation.
On the hourly chart, after BTC probed support at 68,700, bulls and bears have been oscillating and moving upward, currently facing pressure at the upper band.
Combining the 4-hour and hourly charts, the rebound momentum is weak and has not met revers
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