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March 12 Midday Bitcoin and Altcoin Analysis
Bitcoin 4-hour chart: After breaking through the 70,000 level, the price failed to stabilize and formed two bearish candles, with a long lower shadow during the day, indicating some support around 69,200. The MACD's DIF and DEA are both above the zero line but are trending downward, and the MACD histogram continues to shrink, showing weakening momentum. Short-term risk of a pullback exists, but the overall trend remains unchanged.
Strategy suggestions:
Bitcoin: Watch for a rebound around 69,000-69,500, with a target of 71,000-71,800 (as long as it does not break below 69,000, the long position idea remains valid).
Altcoin: Watch for a rebound around 2,000-2,020, with a target of 2,130-2,300.