Market Analysis 3/10

Yesterday, Bitcoin broke through 67,600, giving the bulls a breather as it approached 70,000. However, this is just a rebound, not a new rally. Currently, it's only a test of the resistance around 70,000.

1) The decline from 74,046 is considered the first wave, and the rise from 65,569 is seen as a rebound against the decline. After the rebound, there will be another decline.

2) The 4-hour resistance zone is 69,000-71,500. As long as it doesn't break through 71,500, this range can be used to establish short positions.