Crypto Circle Mr. Coin: 3.11 Bitcoin (BTC)) Market Analysis Reference

Bitcoin continues its upward trend in intraday prices. As mentioned in yesterday's article, the resistance level to watch is the 70,000 mark for a breakout and stabilization. The rally is expected to persist. Currently, the trend is as anticipated, with the price testing higher again. On the 4-hour chart, the price reached a high of $71,777, forming a shooting star with a long upper shadow, followed by a pullback to around $70,000, highlighting short-term resistance. After three consecutive days of bullish closes on the daily chart, a hammer with a long lower shadow appeared at the low of $68,391, indicating strong buying support below.

From the MACD indicator perspective, on the 4-hour chart, the DIF (487.88) crossed above the DEA (136.74) to form a golden cross, but the histogram has shortened, showing weakening short-term upward momentum. The daily MACD (1294) remains in a bullish crossover, with the price holding above the EMA7 (69,985). The EMA30 (68,960) and EMA120 (68,802) are in a bullish alignment. Focus remains on whether the 70,000 level can stabilize. If the price can continue to hold above 70,000, the upward trend is expected to persist.

In the short term, the strategy is to continue buying on dips. Support levels are around 69,500.

3.11 Bitcoin short-term reference: Range 73,000-72,000, with a stop at 75,000, and a 500-point stop loss. Target below 71,500, with a range of 69,700-68,700, aiming for above 70,500, with a 500-point stop loss.