3.12 Evening BTC Bullish Analysis

Although BTC currently shows minor short-term fluctuations and pullbacks, the support below is robust, and bullish counterattack momentum is gradually accumulating. The overall uptrend outlook is clear. Technically, the price is gaining strong support from the MA60 moving average, the Bollinger Band midline support has not been substantially broken through, and the Bollinger Bands maintain a contracting stance; the KDJ indicator is in the oversold zone and about to form a golden cross. Short-term selling pressure has been sufficiently released, and the chart is displaying a "retest consolidation-indicator reversal-Bollinger compression" bullish accumulation pattern. The core support below is at 69,100. Once this level holds, the rebound will gradually gain momentum. The primary target above is targeting 70,800-71,300. After breaking through, it is expected to surge further higher.

At 20:30 tonight, the U.S. weekly initial jobless claims for the week ending March 7 will be released, with the previous value at 213,000 and expectations at 215,000. If the data comes in better than expected (actual value < 215,000), it reflects that the U.S. job market remains robust, market rate-cut expectations are likely to rebound, the USD index will face downward pressure and weaken, which will directly benefit the crypto market and help push BTC into a rebound rally. Even if the data meets expectations, the current chart's bearish momentum has been exhausted, and BTC will rely on strong support to execute a recovery bounce.

Trading Suggestion: Go long at 69,000-69,500, target 70,800-71,400