3.6 Bitcoin Morning Analysis Bitcoin, after rising to 70,612, faced resistance and pulled back. Although there was a brief recovery, the moving average system has formed a death cross, with MA7 and MA30 continuing to diverge downward. The current rebound to the moving averages encountered resistance, indicating that bullish momentum is clearly insufficient. From a structural perspective, the trading volume did not effectively increase during the rebound. The candlesticks repeatedly surged and fell back, with dense upper shadows, showing heavy selling pressure in the 72,500-71,500 range. The 71,000 level serves as a recent consolidation center; losing this level could trigger technical selling. Trading suggestion: Buy around 70,500-70,000, target 72,500-71,500.

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Something interesting: since the Middle East war began, Bitcoin is up about 15% against gold. In periods of geopolitical conflict, you would normally expect gold to outperform Bitcoin because it’s traditionally seen as a safe-haven asset. But this time, the opposite is happening. That reversal is really interesting and potentially quite bullish for Bitcoin.