Mr. Coin in the Crypto Circle: 3.16 Bitcoin (BTC) Market Analysis Reference

First, looking at the short-term, on the 1-hour level here, it has just formed a candlestick with a long upper shadow, with a peak around 71971, then quickly retreated. Currently, the integer level of 72000 has very heavy selling pressure, and a direct breakthrough in the short term is expected to undergo adjustment testing. However, if we extend the cycle a bit, looking at the daily level, the trend is completely different. The daily line has already recorded 3 consecutive bullish candles, and today's candlestick has solidly broken through the previous high resistance level of 71213.5. Everyone sees this structure: breaking the previous high, pulling back, and then rising, which is a very standard ascending N-shaped pattern, a typical bullish signal.

So the current market situation is very interesting, with short-term and long-term battling. From the indicators, looking at the 1-hour level MACD, you can see that the DIF line has crossed below the DEA line, forming a death cross at a high position, which is indeed a signal for a pullback. However, looking at the daily level MACD, the key point comes: its energy bars have turned from negative to positive, and are now red. What does this mean? It means that the bullish momentum of the larger cycle has already started.

Looking at the moving averages, the EMA7, EMA30, and EMA120 lines are currently in a bullish arrangement, and the price is consistently running above them. Therefore, for the upcoming market situation, Mr. Coin's view is: there is a need for short-term pullback to digest the selling pressure around 72000; however, the bullish trend of the larger cycle has not changed. At this time, if the short-term can pull back to stabilize on the moving averages, it can instead be considered an opportunity point. Follow Mr. Coin for real-time market analysis.

3.16 Short-term Reference for Bitcoin:

71800-72800 range, defend at 74500, stop loss 500 points, target below 708500,

69300-68300 range, target above 70300, stop loss 500

Sending chapters may have delays, strategy suggestions are for reference only, the market changes rapidly, no matter how high your judgment and grasp of the market are, always ensure to set profit-taking and stop-loss levels, securing profits #BTC #ETH🔥🔥🔥🔥🔥🔥 #ETH（二饼）