Early Morning Market Analysis on 3-18

From the 1-hour timeframe perspective, BTC price encountered strong pressure at the Bollinger Band upper band around 74700 and quickly pulled back, forming a long bearish candle at the high, directly breaking through the MA7 short-term moving average. The bullish momentum has significantly weakened, and market sentiment has shifted from strong to weak. Currently, the MA7 moving average and MA30 moving average are about to form a death cross, with clear short-term bearish trend signals. The upper 74400-74500 zone has turned into a strong resistance band.

The Bollinger Band opening is narrowing in sync, with price approaching the middle band, the oscillation structure weakening, and bearish forces gradually taking the dominant position.

Combining technical signals, the short-term trend is biased downward. Operationally, focus on selling rallies at higher levels while strictly controlling risk, with emphasis on monitoring the effectiveness of resistance at pullback levels.

Trading Recommendations:

Short in batches near 74200-74600, target around 72500-71500

Short near 2330-2350, target around 2150-2200