March 16th Bitcoin Morning Strategy
On Saturday, Bitcoin's fluctuations were relatively bland, with the overall market showing a narrow range of consolidation, leading to limited trading opportunities. However, entering Sunday, volatility significantly increased, resulting in a clear directional breakout, providing good operational space for the day.
Key Level Analysis:
1. Resistance Range: 83500 - 85000
This range is an important resistance area recently, where the price has tested multiple times without effectively breaking through, indicating strong selling pressure above. If the price approaches this range again, it can be seen as a short-term selling opportunity.
2. Support Range: 82900 - 81000
The lower support range serves as a short-term defensive area. If the price retraces to this range, it may attract buying interest, leading to a short-term rebound.
Entry: Within the 83500 - 85000 range, it is recommended to gradually place sell orders.
Direct Targets: First target 82900, second target 81000
Defense Setup: It is recommended to set above 84500 to avoid potential upside.
1. Current market volatility is high; it is advised to strictly control positions and avoid excessive leverage.
2. If the price effectively breaks above 85000 and stabilizes, it is necessary to promptly adjust the strategy to avoid counter-trend operations.
