3.24 Tuesday Afternoon BTC Latest Thoughts, Weak Rebound, Maintain Short Position at High Levels

The consolidation is frustrating, but it hasn't deviated from our expected trajectory. BTC dropped to around 7700 at midday, and the 7710 short position given this morning also has a thousand-point profit space. Currently BTC is consolidating around 7703.

On the 4-hour chart, BTC failed to continue its upward push yesterday and subsequently came under pressure to pull back. Currently showing consecutive bearish candles moving lower, the short-term rebound is ending. On the 1-hour chart, the Bollinger Bands are narrowing, with price pushing up and falling back. Currently it has broken below the middle band, the indicators on the attached charts are resonating downward with the 4-hour chart, and the short-term bulls are beginning to show weakness. At the same time, without a one-directional trend, the upside space has been released. This is not the right time to chase highs. Maintain short position at high levels in the afternoon unchanged.

Short-term pressure is concentrated in the 7715-7720 region. If the market touches this region later without breaking through it, go short directly. Aggressive traders enter short positions in batches around 7706 and 7710. Unified target below is the 7690-7680 region.