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3.17 Morning Analysis
Bitcoin price surged to 74481.50 and maintained high-level consolidation. Multiple attempts to test the upper Bollinger Band failed, with bullish momentum showing signs of weakness.
MA7 and MA30 remain in bullish alignment, with price holding above the middle Bollinger Band, suggesting a strong short-term trend; however, repeated long upper wicks at high levels indicate growing pullback pressure.
The market is in a high-level consolidation and correction phase, with intensifying long-short competition. Close attention should be paid to breakouts of the 74400-74600 resistance zone and the 73800-73300 support zone.
Trading Suggestion: Short from 74800-75300, target 72800-72300.
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