3.12 Evening Analysis

Bitcoin is currently under pressure from the MA7 and MA30 moving averages, with the Bollinger Band middle band effectively broken through. The KDJ indicator shows a death cross pointing downward, short-term bullish momentum is completely exhausted, and the weak structure is clear. From the high, it has formed a bearish pattern of "surge and pullback - moving average inflection - Bollinger Band opening." The first key support below is at 69800; if broken, the target is the 69000-68800 zone.

Tonight at 20:30, the U.S. initial jobless claims for the week ending March 7 will be released, with the previous value at 213,000 and expectations at 215,000. If the data exceeds expectations (actual value > 215,000), it will indicate cooling in the U.S. employment market, strengthen market expectations for delayed Fed rate cuts, strengthen the dollar index, and directly be bearish for cryptocurrencies, driving Bitcoin into further pullback.

Operation Suggestion: Short at 70800-71300, target 68800-69300.$BTC $GT $SOL