3.6 Bitcoin Morning Analysis

Bitcoin, after rising to 70,612, faced resistance and pulled back. Although there was a brief recovery, the moving average system has formed a death cross, with MA7 and MA30 continuing to diverge downward. The current rebound to the moving averages encountered resistance, indicating that bullish momentum is clearly insufficient.

From a structural perspective, the trading volume did not effectively increase during the rebound. The candlesticks repeatedly surged and fell back, with dense upper shadows, showing heavy selling pressure in the 72,500-71,500 range. The 71,000 level serves as a recent consolidation center; losing this level could trigger technical selling.

Trading suggestion: Buy around 70,500-70,000, target 72,500-71,500.