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3.10 Bitcoin, since the low of 1908 on 3.9, has initiated a unilateral upward move. Currently, the price has approached recent highs, indicating a strong bullish trend, but in the short term, it also faces resistance from the upper band and the risk of a pullback.
The short-term moving averages are steadily rising, with the moving averages arranged in a bullish alignment, clearly indicating an upward short-term trend. Recently, the K-line has been consecutively bullish, with new highs continuously being made, showing sufficient bullish momentum. However, the pullback from high levels also reflects short-term profit-taking pressure.
Upper resistance: 2068-2070 → If broken, it could open further upward space; support below: 2040, recent consolidation center → If lost, it may fall back toward 2030.
Trading suggestions:
Focus on shorting, and when facing resistance in the 2065-2080 range, consider light positions. The initial target is to watch for a break below 2000, then look toward 1980.
In the medium term, the overall trend has not been broken, and after a pullback, there is still potential for further upward movement; however, the overbought condition in the short term is obvious, and caution should be taken regarding technical pullback risks. Pay close attention to the gains and losses of the resistance above 2068 and the support below 2040, as these will determine whether the trend continues upward or enters a consolidation phase.