3.12 Evening BTC Bullish Analysis

BTC currently shows minor short-term fluctuations and pullbacks, but downside support remains strong, with long position counterattack momentum gradually accumulating. The overall bullish trend is clear. Technically, the price finds strong support at the MA60 moving average, and the Bollinger Band midline support has not been substantially broken through. The Bollinger Bands maintain an overall contracting and consolidating posture. The KDJ indicator is in the oversold zone about to form a golden cross. Short-term selling pressure has been sufficiently released. The chart displays a "pullback stabilization-indicator turning-Bollinger contraction" bullish accumulation pattern. Core support below at 69100; after holding this level, the bounce should gradually strengthen. Primary targets above look toward 70800-71300, and after breaking through, further upside is expected.

At 20:30 tonight, the US initial jobless claims for the week ending March 7 will be released. Previous value: 213,000, Expected: 215,000. If the data underperforms expectations (actual value <215,000), it reflects that the US employment market remains healthy, market rate cut expectations may warm up, the US dollar index faces pressure and weakens, which will directly benefit the crypto market and push BTC to initiate a rebound; even if the data meets expectations, the current bearish momentum has been exhausted, and BTC will execute a recovery rally supported by strong support levels.

Operation Suggestion: Long at 69000-69500, target 70800-71400