3-16 Evening Market Analysis

Bitcoin surged higher then quickly pulled back, with insufficient support from bullish funds.
The upper wick pierced through the previous resistance level but was rapidly pushed down, with extreme selling pressure from above.

On the 4-hour MACD, a turning signal has appeared, with volume continuously diverging and bullish momentum significantly weakening.
This is a typical technical pattern of a short-term peak after a surge, with consolidation beginning.

Current price oscillates around 73500, which is merely weak rebound correction, not a trend reversal.
If the support below breaks, the pullback space will further open up.

Trading Suggestions
Sell short in batches in the 73800–74100 range
Target around 71000–72000 level#Gate广场AI测评官 #加密市场上涨 #比特币站上七万美元