3.16 Monday

The weekend session concludes, a brand new week begins. Wishing all traders smooth trading and steady profits!

The weekend market continued narrow sideways consolidation. In the early morning session, bulls suddenly exerted pressure, pulling prices higher in the short term. BTC surged toward 73,200 briefly, then encountered obvious selling pressure and declined. Currently oscillating around the 72,500 zone.

Short-term bulls temporarily hold the advantage, oscillating upward along the 4-hour Bollinger Band midline support, with price repeatedly maneuvering in step-like increments. However, the core market signal is clear: the 74,000 round number level above represents a strong resistance zone. Bulls have attempted multiple breakouts without effective penetration—selling pressure remains heavy at higher levels. This is a sideways pattern characterized by strength without breakthrough, powerful momentum without follow-through.

As long as the critical 74,000 resistance is not effectively held, all rallies should be viewed as corrective moves. Intraday strategy maintains the approach of selling rallies at highs, avoiding blind chasing of longs.

Intraday Recommendations

Rally 72,900–73,600: Scale into short positions
First target below: 71,000, further support at 70,000 $ETH $BTC #比特币升回7万