3.9 Bitcoin Analysis

The Federal Reserve's policy expectations are hawkish, and non-farm payroll data reinforce expectations of rate hikes. The US stock market is under pressure, and overall market sentiment in the crypto space is cautious, with a rising risk-averse sentiment among investors, exerting macro pressure on Bitcoin.

From the 1-hour chart, the current price is 1977. Although there is a rebound, it remains under pressure above the MA7 and MA30. The short-term moving averages have not yet formed an effective bullish alignment, and the rebound momentum is clearly insufficient. The recent strong support level is at 1908. If the rebound weakens and the price falls below this level, it could open up a larger downside space. The key resistance is in the 2000-2020 range. If the rebound fails to break through, the bearish trend will continue.

Overall, macro pressure is evident, and technical rebound momentum is lacking.

Trading suggestion:
A rebound to the 2000-2020 range can be used for short-term high-position entries, with the first target at 1908. If broken, look for 1880.