3.17 BTC Evening Analysis


Since the price pulled back from the high of 75998, the entire rebound lacks volume support, with each rally being suppressed by moving averages—a typical weak rebound pattern with a high probability of continued downward movement.

The current Bollinger Band channel is in a narrowing state, with the lower band support moving down to around 73342.6. If the price breaks below this level on increased volume, downside space will open up rapidly. The primary target below is the previous low point around 72891.3. Once that breaks, further downside space will completely open up.

Trading Suggestions:
Short in the 74500–75000 range, targeting 72500–73000. $BTC
BTC-1.06%
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