3.8 Evening Market Analysis and Trading Recommendations

In the evening, Bitcoin surged to a high of 71,262, then gradually pulled back a bit, now consolidating around 70,626.

The short-term trend is still upward, with all moving averages trending higher. The previous upward momentum from 68,210 has not been broken. The pullback now is not a sign of weakness; it’s mainly a normal correction after a strong rally at high levels, as traders take profits.

Currently, focus on the 70,500-70,600 range. If this zone holds steady, there will still be opportunities for a rebound.

Trading Recommendations

Don’t chase the market now. Wait until there are signs of stabilization around 70,500 before considering entering, with a target of 71,000-71,200.
If the price surges to 71,200-71,300 and cannot hold, you can also take a short position, with a target of breaking below 70,000 and then further down to 68,000→66,500. Adjust your stop-loss according to your position size.

The overall trend remains unchanged. Stay calm and avoid greed. Follow key support levels and gradually build your position steadily. #加密市场上涨 #Gate2月透明度报告 $BTC