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3.12 Thursday Morning Bitcoin Latest Strategy
The current market continues to fluctuate within a range. After a rebound last night, it quickly pulled back. The short-term rebound lacked momentum. Overnight, Bitcoin rebounded to around 71,300 but faced resistance and declined. The short-term trend is clearly within a range.
On the four-hour chart, Bitcoin broke above the upper band but faced resistance and pulled back. It is currently supported around the middle band. However, as the rebound momentum weakens, short-term resistance is concentrated in the 71,500-72,000 area. If this level cannot be effectively broken, the market will mainly focus on short positions, with low buy-in as a supplementary strategy.
This morning, Bitcoin is referenced around 70,700 and 71,200 for short positions. Watch the 69,000-68,000 area below. If it drops, do not extend the reversal to long positions.