3-18 Morning Market Analysis

From the 1-hour timeframe perspective, BTC price encountered strong selling pressure at the Bollinger Bands upper band around 74700 and pulled back rapidly. A long bearish candle formed at the high, directly breaking through the MA7 short-term moving average. The bullish momentum has significantly weakened, and market sentiment has shifted from strong to weak. Currently, the MA7 moving average and MA30 moving average are about to form a death cross, with clear short-term bearish trend signals. The upper 74400-74500 zone has now become a strong resistance band.

The Bollinger Bands opening is narrowing synchronously, with price converging toward the middle band. The oscillation structure is weakening, and bearish forces are gradually taking dominance.

Synthesizing technical signals, the short-term trend is biased downward. Operationally, focus on selling rallies at high levels while strictly controlling risks, with key attention to the validity of resistance pressure at bounce levels.

Operation Recommendations

Short on rallies near 74200-74600 in batches, targeting 72500-71500 region

Short near 2330-2350, targeting 2150-2200 region