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Did you profit from the short positions last night? Bitcoin's Auntie is again playing range-bound oscillation, don't chase the highs!
Brothers, that surge and fall last night—those who went short should be secretly happy now, right? I also warned about the potential for further decline earlier today. Currently, the trend is unfolding as expected.
To put it simply, the situation now: news about external conflicts changes daily. Bitcoin and Auntie are like a seesaw—up then down, down then up. Overall, it's a cycle of oscillating upward, hitting highs then falling back, and consolidating within a range. The 72,000 level is heavily resisted above, while around 68,000 there's support below. Auntie is fluctuating between 1980 and 2100.
On the macro front, last night’s US CPI data was released—nothing surprising. Rate cuts in March are basically off the table. The high-interest-rate environment still persists, which puts pressure on the crypto market, but everyone is watching for rate cuts in the second half of the year. So, the decline isn’t deep, just a sideways shakeout.
From a technical perspective, the 4-hour chart has been continuously correcting, breaking below the 5-day moving average, with lower highs—bulls are losing momentum. The moving averages are turning downward, MACD shows a dead cross with green bars, and RSI has dropped from the strong zone. Short-term signals are clearly bearish. The 1-hour chart is even more sluggish—no strength in rebounds, just oscillating downward.
What’s the plan?
Simple—sell at the upper boundary, buy at the lower boundary. Don’t chase the highs or sell at the lows. Today, focus on the 72,000 level—if it can’t break through, go short; if it drops, look for support around 69,000. Remember, in a sideways market, controlling your trades is key to making profits; chasing highs blindly can lead to losses.
Bitcoin (3.12) Trading Strategy:
Sell at 71,500-70,800, stop at 72,600, target 69,700-69,200
Buy at 69,100-69,600, stop at 68,300, target 70,500-71,300
Auntie (3.12) Trading Strategy:
Sell at 20,95-20,75, stop at 20,20, target 20,20-20,00
Buy at 19,95-20,25, stop at 19,60, target 20,75-21,05