Crypto Scholar: Bitcoin Opens Northbound Channel on 3.14, Countdown to Previous High of 74000! Latest Market Analysis and Trading Ideas

Bitcoin is currently trading at 71,800. After establishing a strong foundation from the 71,000 low, the chart momentum has clearly accumulated again, which suggests what? It indicates that the corrective washout has ended, and a new round of northbound movement is about to happen. Let me remind you once more that the biggest trap in the crypto space is chasing rallies and panic selling. True profits often come from bold positioning during pullbacks! Those who were panicking yesterday are probably slapping their thighs today, right? The trend hasn't changed—just a washout. Hold tight, and the previous high of 74,000 is right in front of us!

On the daily K-line before this article, we can clearly see the high at 73,850, indicating that the main players are preparing to attack the previous high of 74,000, which is the 0.786 golden ratio resistance level. Especially after five consecutive bullish candles standing firm above the EMA30 trend line at the 70,000 level and pushing northbound, the MACD has shown volume expansion for four consecutive days with DIF and DEA approaching the 0 line. If the price breaks through the previous high of 74,000, the 0 line will be broken and the northbound momentum will open further. The Bollinger Band upper rail at 72,600 has already been broken, and overall the northbound trend is inevitable.

On the four-hour K-line, after pulling back from 71,130, it successfully established above the Bollinger Band midline, with the EMA trend indicator opening in a northbound pattern. Short-term pullbacks are merely accumulation washouts during the uptrend. Key support to watch is the previous dense zone at 71,000; after the main players tested it multiple times with effective support, as long as we don't break it, we can continue holding. Watch the Bollinger Band midline at 70,500 as the floor level. Downside space is limited while the northbound channel remains intact, indicating substantial room to the upside.

Short-term trading ideas: No market is 100% certain, so always use stop losses. Safety first, and small losses for big gains is the goal.

If moving northbound from 71,500 to 71,200, set stop loss at 400 points with targets at 72,000 to 72,500. If it breaks above, targets are 73,000 to 74,000.

If moving southbound and resistance appears at 72,200 to 73,000 with chart divergence, you can go short on light position with a stop loss at 73,500. Don't look too far for targets—exit near 71,500.

Actual execution should be based on real-time order flow data. For more information, feel free to reach out. This article has publication delays, so please use it as reference only. Trade at your own risk. #Gate2月衍生品市场份额创新高