3.19: Bitcoin Fails to Hold Ground, Clear Signs of Retreat

Bitcoin has formed a false breakout followed by a bull trap pullback on the daily chart. If the true intention was to push higher, the price should have held its ground after breaking through the one-month oscillation resistance at 73,000 on March 17th, and then accelerated upward toward 90,000 levels, capturing profits from bottom-fishing positions. However, this process did not materialize, so we need to continue viewing this as a false breakout and maintain our bearish stance.

In terms of chart structure, the daily K-line is trapped within the downward channel formed by the MA60 resistance line, and the pullback downtrend pattern remains unchanged. For intraday operations, it is recommended to continue adopting a bearish approach. To avoid short-term price rebounds, operationally we can consider entering short positions in the 72,500~73,000 USD range, with stop loss continuing to be set at 74,200 USD. Short-term targets below 70,000, medium-term targets below 68,000 USD.#比特币