Market Analysis

Touched 74K again, facing short-term resistance, awaiting 4H close to determine next move

Last night's analysis indicated probabilities were close for movement around 70K, but leaning upward, with reasons including 1H level bullish structure, moving averages, CB positive premium, etc. (though I didn't trade on this)

The market broke through triangle convergence this morning. I suggested that after Bitcoin breaks through triangle convergence, it may test the 73,500 range upward.

Yi Lihua's short-selling information also provided theoretical support for the market rally.

After US stock market opening today, the market has tested up to the key 74K area, then faced obvious resistance. Currently down 1000 points short-term to around 72500.

If the 4H level closes at these levels, it will form an SFP and lean toward downside, ultimately retesting the 66 range.

If the 4H close can hold above 74K, I believe subsequent price action will push further up to the 78-81K range.

I believe by late March, holding above 74K and testing 78-81K is highly probable, but achieving it directly today is lower probability. I think the closer we get to end of March, the higher the probability of breakthrough.

Before the late-March breakthrough, look for pullback lows to accumulate, and target selling at 78-81K.

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