3.24 Tuesday Afternoon Bitcoin Latest Analysis, Weak Rebound, High Shorts Unchanged

The volatility is grinding, but it hasn't deviated from our expected trajectory. Bitcoin dropped to around 700 at midday, and the 710 short we provided this morning has about a thousand points of space. Currently, Bitcoin is fluctuating around 703.

On the 4-hour chart, after Bitcoin failed to extend gains yesterday following a surge, it subsequently came under pressure and declined. Currently in consecutive bearish candles moving downward, the short-term bounce has ended. On the hourly chart, Bollinger Bands are tightening, with price surging and pulling back. Currently breaking below the midline, the attached indicators are in downward resonance with the 4-hour chart, and short-term bullish momentum is beginning to weaken. Meanwhile, without a one-sided trend, the upside space has been released. This is not the time to chase longs. We maintain shorts at high levels for the afternoon session.

Short-term resistance is concentrated in the 715-720 zone. If the market touches this zone without breaking through, go short directly. Aggressive traders can enter shorts in batches near 706 and 710. The unified target below is 690-680 zone.