3.16 Monday Afternoon BTC Latest Thinking - Not Being a Fence Sitter, Firmly Shorting from High

Recently, the bulls have been quite strong, and catching us off guard with an upside wick, through continuous accumulation BTC has now broken through the previous pressure level of 74000. However, as always, although the short-term trend is strong, it still lacks much continuity. In this situation, it's better to short from high and take some losses than to be left hanging at the peak.

On the 4-hour chart, short-term strong upward movement, with bulls continuously increasing volume causing BTC price to break through the previous pressure zone. However, while leaving an upper wick, the short-term has not shown much continuation action. Meanwhile, the KDJ indicator below is showing overbought conditions - a pullback after the rally is just a matter of time. Don't chase longs at high levels; this afternoon we continue bearish unchanged.

Reference 74000, 74600 nearby for shorts, stop loss above 75000, targets 72000-71000. $BTC