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3/16 Midday Bitcoin Analysis
Just organized my thoughts and here it comes
Bitcoin has currently broken through the triangle consolidation, established a solid position above the short to medium-term moving averages, and formed an arc bottom on the hourly level with a complete bullish structure.
The previous two retests of 71272 both held, indicating this support level is effective, followed by a subsequent rebound.
The previous resistance at 73537 has now become support, with bulls currently in control.
Trading Suggestions:
• If 74030 breaks through with volume and holds, go long with targets at 74527–75655.
• If 72021 breaks with volume and fails to recover on the retest: pay attention to risk management and set proper stop losses.
• On the 4-hour level: if 72095 breaks, watch 71337–70362 below
$BTC
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