Bitcoin price surged higher then quickly pulled back, with bullish fund support weakening The upper wick pierced through previous resistance levels before being knocked down, with significant selling pressure from above. 4-hour MACD showing signs of turning, divergence in volume, bullish momentum clearly fading
This is a very typical short-term spike-to-top, correction-initiated technical pattern. Current price oscillating around 73500, representing weak bounce correction rather than reversal. Once support breaks below, pullback space will further expand.
Operation Suggestion: Short 73600-74100 range, target 71600-72000.$BTC $BTC
3.16 Evening Analysis
Bitcoin price surged higher then quickly pulled back, with bullish fund support weakening
The upper wick pierced through previous resistance levels before being knocked down, with significant selling pressure from above.
4-hour MACD showing signs of turning, divergence in volume, bullish momentum clearly fading
This is a very typical short-term spike-to-top, correction-initiated technical pattern.
Current price oscillating around 73500, representing weak bounce correction rather than reversal. Once support breaks below, pullback space will further expand.
Operation Suggestion: Short 73600-74100 range, target 71600-72000.$BTC $BTC