3.12 BTC Morning Market Analysis: Bottoming Out and Rebounding, Bulls Gearing Up

In the early session, Bitcoin quickly bottomed out and rebounded. The 4-hour chart shows a clear structure of a rebound after a decline, the hourly MACD has formed a golden cross, and the short-term moving averages provide effective support. The price is consolidating around $69,000 with an obvious intention to gather momentum.

Currently, the support below is solid, with the $80,000 region forming a strong support zone; if the price can effectively break through the $69,600 resistance above, a short-term rebound space will open, with key resistances at approximately $71,000, $72,500, and $74,500.

Trading Strategy

Pull back to the $69,000-$69,600 range and buy in batches, with risk control set below $68,400. Targets are set in segments at $71,000, $72,500, and $74,500. Upon reaching key levels, consider partial profit-taking and reducing positions, maintaining a prudent hold.