The previous text hinted at the short-term support of 88340 and the order point of 84910, both of which reached local lows and rebounded, with the trend meeting expectations, self-taking profit.

BTC Market Analysis - (March 6)

Overall Market Trend
1. Mid-term Trend (12H-Daily):

• The mid-term moving average system is in a bearish arrangement, indicating that the overall market trend is currently bearish.

• The K-line high has reached the upper edge of the contracting triangle area, and the space and probability for continued price increase are small, so we must be alert to the risk of short-term pullbacks after a spike.

2. Short-term Trend (4H):

• The price is within a bearish arranged moving average system, but the K-line has not yet shown obvious signs of exhaustion.

• There is a noticeable divergence between bulls and bears, and combined with the sideways movement before the previous market decline, there is a certain probability of a pullback at the lower edge of this area, but excessive speculation is not recommended.

3. Ultra-short-term Trend (1H and below):

• After experiencing sharp rises and falls, the small-scale moving average system is relatively chaotic, but support is gradually forming.

• The price is in the mid to later stages of the contracting triangle, and the amplitude of rise and fall will gradually narrow until a new range structure is formed.

Operational Strategy

1. Large-scale (12H-Daily):

• Being in the intraday short-term high point area, it is recommended to focus on selling high to reduce the risk of chasing long positions.

2. Small-scale (1H and below):

• The price is at the back end of the overall triangular shape, and the amplitude of rise and fall will gradually moderate until a change occurs.

Key Points

1. Short-term Support Levels:

• First Support Level: 88340-86959 (quick in and out recommended).

• Second Support Level: 84910-83982 (consider placing orders).

2. Short-term Resistance Levels:

• Shape Resistance Level: 93350-94910.

• If the price first spikes to this area and above, be alert for bull traps and temporarily set aside breakout buying points.

Summary

• Overall trend is bearish, large-scale is at a high point area, with a short-term risk of pullbacks after spikes.

• Small-scale movements are chaotic but supported, with narrowing amplitude of rise and fall, waiting for a change.

• Operationally, it is recommended to focus on selling high, pay attention to key support and resistance levels, and avoid blindly chasing long positions.