3.20 Bitcoin Afternoon Market Analysis

From the current 15-minute trend, after the price surged to 71582.9 yesterday, it faced selling pressure and has since pulled back, currently trading around 70450. Overall, the market is showing a high-level oscillation with a weak bias.

The previous rebound failed to hold above the resistance level, short-term bullish momentum has weakened, and price has retraced to near the medium-to-short-term moving averages, with intensifying long-short positioning battles.

Key resistance to monitor above: previous high of 71580. If it cannot break through effectively, the rebound space will be limited.
Core support below: 70000. If breached, price may further explore the previous low of 68755.

Trading Recommendations
When price rebounds to the 71000-71500 zone and faces resistance, consider following the trend and initiating short positions, with targets toward 70000. Should that level break, watch for 69000 and below.

Overall, the afternoon market shows oscillation with a downtrend bias. Trading should focus on shorts as the primary strategy with longs as a secondary approach. Strictly control position size and stop-losses to avoid blindly chasing positions. $BTC #加密行情震荡 #美联储维持利率不变