Bitcoin is currently under pressure from MA7 and MA30 moving averages, the middle band of the Bollinger Band has been effectively broken through, KDJ indicator shows a death cross pointing downward, short-term bullish momentum is completely exhausted, bearish structure is clear. From the highs, it has formed a bearish pattern of "rally and pullback - moving average turning - Bollinger band opening." The primary support level below is 69,800; if broken, it will directly target the 69,000-68,800 range.
Tonight at 20:30, the US 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 a cooling in the US labor market, the market will strengthen expectations of delayed Fed rate cuts, the US dollar index will strengthen, directly bearish for cryptocurrencies, driving Bitcoin into further pullback.
Operation Suggestion: Short from 70,800-71,300 range, target 68,800-69,300.$BTC $GT $SOL
3.12 Evening Analysis
Bitcoin is currently under pressure from MA7 and MA30 moving averages, the middle band of the Bollinger Band has been effectively broken through, KDJ indicator shows a death cross pointing downward, short-term bullish momentum is completely exhausted, bearish structure is clear. From the highs, it has formed a bearish pattern of "rally and pullback - moving average turning - Bollinger band opening." The primary support level below is 69,800; if broken, it will directly target the 69,000-68,800 range.
Tonight at 20:30, the US initial jobless claims for the week ending March 7 will be released, with the previous value at 213,000 and expectations at 215,000. If the data exceeds expectations (actual value > 215,000), it will indicate a cooling in the US labor market, the market will strengthen expectations of delayed Fed rate cuts, the US dollar index will strengthen, directly bearish for cryptocurrencies, driving Bitcoin into further pullback.
Operation Suggestion: Short from 70,800-71,300 range, target 68,800-69,300.$BTC $GT $SOL