3.16 Monday, Early Morning Sharp Rise Is Not a Good Sign, Go Short First

A new week has started again, another beautiful day. Bitcoin surged in the early morning and rushed to around 73200 again but faced pressure and pulled back. It is now trading around 72600. Recently, it has tested the upper resistance multiple times but failed to break through effectively, showing that the upper pressure is strong.

From the current chart trend:
The daily line closed positive again, but the coin price remains under pressure near the daily channel upper band, which is also a key resistance level where bulls have rushed up and pulled back multiple times. Bull momentum is gradually weakening, and the upper space is failing to open up effectively.

On the 4-hour level, the price bounced along the steps but faced pressure at the upper band, entering a high-level oscillation pattern. The bull uptrend momentum has clearly slowed down, and indicators are entering a local correction accumulation phase.
The hourly Bollinger Bands are showing signs of turning down. Short-term will most likely continue oscillating and pulling back to adjust. Since this round of rebound highs has been basically confirmed and rebound strength continues to weaken, operationally prioritize shorting on the pullback adjustment, then consider adding back long positions after the adjustment is complete.

Monday Early Morning Bitcoin (BTC) Suggestion:
Short in batches in the 73000–72800 range, with target first at around 71000. $BTC