3.25 Wednesday Morning Bitcoin Latest Analysis, Shorting Intraday

After yesterday's grinding oscillating movement responded to the US stock opening low, the bears rallied all the way down, with the lowest point dropping to around 6880 in the early hours. Yesterday's bearish and short positions were verified once again—all perseverance was not in vain.

Currently, Bitcoin has rebounded above 70,000 again. In the short term, neither bulls nor bears have sustained follow-through action; instead, it's ranging within a zone. No matter how bullish or bearish the outlook, if the range holds, the consolidation will continue. Current short-term resistance is at the 7,150 region, with support at 6,890. Intraday, as long as this range isn't effectively broken, both longs and shorts can participate.

Bitcoin can reference 7,100 and 7,150 in the morning for staged shorting, targeting 6,950-6,850 on the downside. If it doesn't sustain lower, switch directly to long.