3/23 BTC Market Analysis


If this week's downtrend reversal can rebound and break through 70,000, the probability of following the red route subsequently is high. If there is continuous decline or weak rebound, it will increase the probability of the blue route.

The red and blue routes converge at the same destination, with the only difference being whether there is a high point above 76,000 before breaking 60,000. If it follows the red route subsequently, there will still be very good shorting opportunities. I don't believe 60,000 can serve as a bear bottom; it cannot even be the bottom for this year. The short-term resistance level remains around 71,000. If it doesn't rebound past it, it will continue declining.
BTC-0.36%
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