3-17 Morning Analysis Do Not Chase Rises, Beware of Bull Traps

BTC surged to 75400 then entered high-level consolidation with prolonged stagnation. Multiple attempts to break through the Bollinger upper band faced resistance and fell back. Bull momentum is clearly weakening with clear signs of weak upside momentum.

Although the chart maintains a bullish moving average alignment and price holds above the Bollinger middle band for now, the short-term structure appears relatively strong. However, consecutive long upper shadow lines at high levels with dense selling pressure above have rapidly increased correction risk. The chart has shown expectations of rising then falling back.

Operation Suggestions
Sell in batches near 75000-75500 rebounds, target around 73000-72500