3.25 Evening BTC Analysis

The 4-hour chart shows a converging triangle with the upper boundary at 72,000 under strong resistance and the lower boundary at 68,800 providing support. The reversal window is biased bearish, the large-timeframe bearish structure remains intact, MACD red bars are shrinking, and a death cross of the fast and slow lines is expected, indicating weakening bullish momentum; RSI is neutral to bearish, with no strong upward signals. Short-term moving averages are in a bearish alignment, and the 70,000 level is under obvious pressure, with rebounds lacking strength. Regulatory headwinds for stablecoins are intensifying, risk-off sentiment is rising, and selling pressure is gradually accumulating.

Operation Suggestions: Short around 71,500-72,000, with targets at 70,500 and 69,000.