3/20 Bitcoin Market Analysis

Bitcoin previously broke below the 70406 level, but the key support at 69222 was not effectively broken, only showing a false breakout spike. The closing price remained stable above this level, with support still effective.

Currently, 70406 has become the core resistance level. Only by holding above this level can a rebound be initiated, with upside targets at 71505 and higher levels. If unable to break through, it will likely oscillate and consolidate in the 70406-69222 range.

If it subsequently pulls back and breaks below the 69222 support, downside targets are 68227 and 67266.

A successful breakthrough and hold above 70406 would mark the end of the downtrend phase.

If it continues oscillating within the range, it will likely retest the previous low of 68750. If it holds, another rebound is expected; if broken, the downside will expand.

Trading Suggestions:
• Volume breakout above 70406 - consider right-side long positions
• Volume breakdown below 69681 with failed retest above - consider right-side short positions
• Strict stop loss management required

Level Targets:
• Hourly: Hold above 70406, upside targets at 71613-72813
• 4-hour: Break below 69314, downside targets at 68279-67335

$BTC #Gate13周年全球庆典