3-5 Market Analysis: Bitcoin faces clear resistance signals during its rally, with a predominantly bearish stance and strict risk control.

Bitcoin quickly encountered resistance after rising to 74,000 in the short term. The 15-minute Bollinger Bands' upper band shows significant resistance, and the price is oscillating weakly along the upper band. The bullish momentum continues to weaken, lacking the volume needed for a sustained push higher. The short-term rebound is nearing its end.

Macro and capital factors are both exerting pressure: in March, approximately $6 billion worth of tokens are scheduled to unlock, significantly increasing short-term selling pressure; the Federal Reserve's probability of cutting interest rates in March is very low, and expectations for a June rate cut are cooling down. The high-interest-rate environment suppresses risk assets, and market risks at high levels continue to accumulate. Currently, blindly chasing longs at high levels can easily lead to trapped positions. The bearish outlook remains firm, with rhythm control and risk management as the core focus.

Trading Recommendations

Short at 72,600-73,000, with targets at 70,000-71,000.