March 17th, Monday, Analysis of the Market Thoughts at Noon!
From a technical structure perspective, at the four-hour level, after the opening of the running channel, the price failed to maintain itself outside the upper track, leading to a significant pullback due to oscillation and consolidation. The volume remains in a shrinking state without support for release, and the moving averages have also converged, showing signs of reversal. The shorter time frame clearly shows pressure at high levels, and under strong upward movements, a certain consolidation and bottoming is needed, while the lower space awaits further probing.
At the one-hour level, the price's high-level oscillation struggles to stabilize, directly releasing downward pressure towards the lower track, with shorts showing a tangible arrangement of volume release, driving the moving averages to turn consistently. After a downward spike, there is a certain recovery effect, but it is just a normal repair after a retest. The demand for pullback adjustments in the short term is strong, and for the upcoming strategy, we will focus on shorting at high levels.
Bitcoin Trading Suggestion: Short near the 83700 area, targeting 82600-82000, and continue to look down if broken!
