3.12 Evening Analysis

Bitcoin is currently under pressure from the MA7 and MA30 moving average compression, the Bollinger Band midline has been effectively penetrated, the KDJ indicator shows a death cross pointing downward, short-term bullish momentum is completely exhausted, the bearish structure is clear. From the high, it has formed a bearish pattern of "rally and pullback-moving average turn-down-Bollinger Band opening". The primary support level below is 69800, and after breaking through, directly target the 69000-68800 zone.

At 20:30 tonight, the US initial jobless claims for the week ending March 7 will be released. Previous value: 213,000, Expected: 215,000. If the data exceeds expectations (actual value > 215,000), it will show that the US job market is cooling down. The market will reinforce expectations of delayed Fed rate cuts, the US dollar index will strengthen, which is directly bearish for cryptocurrencies and will drive Bitcoin into further pullback.

Operation Suggestions: Short 70800-71300, Target 68800-69300.$BTC $GT $SOL