3.24 Bitcoin (BTC) Market Analysis Reference - Big Cake Turning Signal Has Arrived. Yesterday afternoon the price dropped to a low of 67916, then directly rebounded above 70000. Intraday rebound of nearly 5000 points indicates that the 67500 area is the bottom line of main capital and also a previous low level. The bears couldn't push it down any further from here. The daily chart is even more intriguing. Three consecutive days of positive closes, but notice that each positive candle carries a long upper wick. This shows that bulls want to push upward, but at the 72000 position, bears have laid an ambush with very concentrated selling pressure. This is a standoff between bulls and bears, neither giving way.

Looking at MACD, this is the indicator that best reflects trend strength. On the 4-hour level, DIF has formed a golden cross with DEA and keeps rising, from -269 to 603, a signal of short-term momentum strengthening. However, the MACD histogram on the daily level has contracted from 1457 to 141, clearly showing deceleration. In other words, the rebound strength of the larger timeframe still needs observation. From the moving averages, price has climbed above EMA7 and is currently trading above 69879, a sign of short-term strength. However, look at EMA30 and EMA120 at 70040 and 70290 forming a death cross. This position is the dividing line between bulls and bears. If price can break above this area on volume, the trend will completely reverse. If it can't break above, this is a standard bull trap.

On volume, at 8 PM there was a 7343-volume crash, indicating capital exodus. But the subsequent rebound? Shrinking volume, meaning buy-side is very cautious, no one willing to chase higher. Most critically, at the 71246 key resistance, the volume peaked at 3251. This is a clear signal—this position bears the traces of main capital testing the level. To break through, there must be buy volume exceeding this magnitude to confirm.

Overall, 67500-68500 has strong support, 72000 nearby has strong selling pressure. Short-term moving averages look good, but long-term ones still suppressing. MACD small timeframe golden cross, but larger timeframe momentum declining. This chart is forming a converging triangle, ready to choose direction anytime. At this current stage, both sides have opportunities, but the key is timing. Wait patiently, wait for that volume confirmation signal. Whoever moves first will be the leader of the next trend wave. Follow Coin Sir for real-time market analysis.

3.24 Bitcoin Short-term Reference: 72300-73300 range bounce, defend at 75500 supplementary, stop loss 500 points, target below 71300 into 68500-69500 range, target above 70500, stop loss 500. Message transmission has delays. Strategy suggestions are for reference only. Markets change rapidly. No matter how confident in market judgment, stop profit and stop loss must always be set. Lock in profits #Gate13周年全球庆典 #Gate储备金报告 #加密行情震荡 $BTC #$GT $ETH