3.24 Tuesday Morning Bitcoin Latest Trading Ideas - Rebound is Not Reversal, Continue Shorting

Ten years of grinding cannot compare to one sentence from Trump. After last night's round of gains, Bitcoin continued to consolidate at high levels. Following U.S. stock futures opening higher, Bitcoin advanced further, with the price reaching a high of 7170 area. We decisively shorted at this level at current price, and the low touched 7000 area at dawn - nearly 1700 points of perfect profit taking. Subsequently, it rebounded to 7120 and pulled back, currently oscillating near 7070.

From the current chart perspective, the daily line formed a solid bullish candle with volume breaking above the middle band, but with no significant extension afterward, leaving an upper shadow. Bitcoin peaked at 7170. In terms of technical structure, the short-term rebound is not a reversal. The four-hour chart appears strong in the short-term rally, but remains unable to break above the upper band under multiple upper shadow pressure. The Bollinger Band maintains a downtrend channel unchanged. The rebound is not a reversal; the overall structure remains bearish, with continued shorting on intraday rebound.

For this morning's Bitcoin, consider shorting in batches around 7100-7150 area, locking profits at 6950-6800 zone below.