3.12 Thursday Afternoon Latest Insights

Currently, the market sentiment is becoming increasingly volatile. After Bitcoin surged to 71,300 overnight, it has been declining steadily, with a low around 69,100. It has since been fluctuating slightly within this range. Our previous bearish outlook has once again been validated.

For the near-term outlook, the short-term rebound momentum is gradually weakening. Do not chase long positions for now. Focus on the 69,000 support level. If this level is broken effectively, the downside space will open up completely. In the afternoon, consider a high-level short position.

Refer to a short position above 70,000, with a target of 69,000-67,500. If broken, continue to watch for a move down to 65,000. If the decline does not extend, consider reversing to a long position.