# 3-13 Morning Analysis: Long Upper Shadow Shows Strong Resistance, Short-term Enters Technical Correction

Bitcoin made a second push to 2148.00 and then rapidly retreated. The K-line formed a distinctive long upper shadow, clearly indicating that bulls encountered strong selling pressure at higher levels. The upside momentum was instantly exhausted, and the bullish momentum in the short-term has undergone a significant reversal.

Current price has rebounded to the Bollinger Band upper rail confluence resistance zone, with multiple technical levels combining to exert downward pressure. Additionally, short-term moving averages have turned downward, establishing a reversal resistance band. Combined with weak follow-through in trading volume, the rebound lacks sustained capital support, making it significantly more difficult for short-term prices to continue rising.

From a technical indicator perspective, KDJ has turned downward from elevated levels, exiting the overbought zone and releasing clear bearish signals. Bitcoin is formally entering a technical correction phase, with increased probability of downside oscillation in the near term.

**Trading Recommendations**

On rebounds to 2120-2140 area, targets look toward 2030-2060 area.