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3-14 Evening Market Analysis Bitcoin retreats from highs, rebound is weak, mainly bearish
Last night, Bitcoin surged to around 73,800 but faced strong resistance, causing bullish momentum to quickly fade. The price then declined to the 70,500 area for consolidation. Currently, the rebound strength is weak, trading volume continues to shrink, and the overall market shows high-level resistance with weak oscillation. Short-term reversal signals have not yet appeared.
From a technical perspective, resistance is densely packed around 72,000, with bulls repeatedly encountering obstacles in their attempts to push higher. For evening trading, avoid chasing long positions or catching falling knives; focus on shorting on rallies.
Operation Suggestions
Shorts in the range of 71,000–71,500, targeting 69,000–69,500.