3.13 Friday Morning Bitcoin Latest Thinking, Short First Then Long Intraday

In the blink of an eye, we've reached the end of the week. Good morning everyone, wishing you all a fruitful day. Over the past two days, the market rhythm has gradually slowed down, basically operating in sideways consolidation, with both bulls and bears encountering strong resistance. In the short term, upside pressure is concentrated around the 71500 area, with support at 69000 below. As long as this resistance and support hold, this range-bound trend will continue.

From a technical structure perspective, short-term consolidation and correction is occurring. Although Bitcoin is trading above the mid-band on the 4-hour chart, it shows no intention of extending further, instead engaged in narrow range bull-bear tug-of-war. For today, after the overnight rebound to 70700, there's some pressure, so in the short term we won't chase longs. Today we'll first watch for pullback action, and look to go long after finding support below.

Morning suggestion: Short Bitcoin around 70700 and 71200, watch support at 69000-68000 below. If it doesn't extend lower, reverse to long. $BTC