3.16 BTC Midday Analysis

The strong bullish structure remains unchanged; the long black candlestick is primarily a short-term profit-taking washout. Price has pulled back to the Bollinger Band midline and found support. KDJ has formed a bearish cross at high levels with rapid volume contraction. RSI has moderately retreated from overbought territory while maintaining the strong bullish zone. Moving averages remain in perfect bullish alignment. This technical pullback is accumulating momentum for the next wave of upside.

Although geopolitical risk-off sentiment has waned in phases, the long-term allocation logic for "digital gold" remains solid—capital is simply rotating from short-term positions to long-term holdings.

The early decline in US equities triggering short-term risk-off is merely temporary fund reallocation. As a high-growth asset, crypto's long-term uptrend has not been broken. Fed officials signaling "delayed rate cuts" is mostly pre-resolution volatility. As inflation data gradually normalizes, rate cut expectations will return, opening much larger upside space for BTC.

While near-term positive catalysts are not obvious, the halving narrative has been fully digested. Capital accumulation will form a more solid foundation for gains.

**Operation Suggestions**

Buy on dips in the 72000-72500 range, target 74700-75700, stop loss below 71000