2026-03-16 06:01:54

3.16 Afternoon BTC Outlook: Light short at 74000, if 72300 holds, expect upside

BTC has strongly broken through the 74000 level. The pullback range for this round is expected to be limited, and we're adjusting our stance appropriately!

From the current perspective, the weekly chart pattern remains solid, with the rebound cycle likely to extend for at least two more weeks. This uptrend's target very likely reaches around 80000.

Only recommend light short positions in the 74200 zone; focus on the 72300 support level on pullbacks. If this level holds, the rebound trend remains intact.

Resistance levels above the bounce are 75600 and 79000 respectively; only an effective break below 72300 would weaken the bullish structure.

Stop loss for long positions is set at 72000. If broken lower, consider buying dips in the 71000-70000 zone to build positions.
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