Bitcoin Master: 3.20 Bitcoin High Position Pullback Confirmed, Bottom Fishing Wait at Least Until 68000! Latest Market Analysis and Strategy Reference

Bitcoin current price 69700, this BTC sharp decline is not doomsday, but absolutely not a good time to bottom fish! The pullback from 75998 to 68750 has scared many people—some are holding stubbornly while others are recklessly bottom fishing. Remember: in trading, capital preservation comes first, then profits. Following the downward momentum is more reliable than betting on a rebound! Bitcoin's downward trend has now formed resonance across daily, 4-hour, and 30-minute timeframes. Holding positions hoping to go north will only get trapped deeper. Friends with empty positions should prioritize following the downtrend—don't dream of catching cheap bargains. Preserving capital is always more important than stubbornly holding and waiting for recovery!

Daily Chart: High topped out, downtrend confirmed. K-line formation shows a dark cloud cover combined with consecutive bearish candles pullback pattern. Trend and position broke through the 74000 critical support level. Currently trading below the middle band of the Bollinger Band with the band opening downward, confirming short-term top signal. MACD indicator's red histogram is rapidly turning green; DIF and DEA death cross downward. RSI fell back from highs to around 40, indicating bullish momentum is completely exhausted and bears are taking over the market. Support at 69000, if breached, will further probe 68000 or lower.

4-Hour Chart: Penetrated 70000 level, weak consolidation pattern persists. Temporarily stabilized near 69000, currently in weak consolidation. EMA moving averages form bearish alignment, price firmly pressed below middle band. Any rebound is a bear trap, absolutely not a reversal signal. MACD green histogram continues expanding, RSI dropped to around 25 in the oversold zone. While there's expectation for oversold rebound, amplitude will likely be limited and cannot change the weak pattern. Focus on upper resistance 70200-70500, lower key support 68800-69000. High probability of consolidation within this range. After breakout, downtrend will continue.

Short-term Strategy Reference: Market has no 100% certainty, so always use stop losses—safety first. Small losses for big gains is the goal.

Lower 68800 to 69000 going up, stop loss 68500, target 69800 to 70000—this is gambling on an oversold bounce, not a bullish trend. Recommend controlling position size with tight stops, quick entries and exits! Never hold stubbornly.

Upper 70200 to 70500 going down, stop loss 71000, target 69500 to 69000. If price breaks below 69000 continue looking at 68500 to 68000.

In crypto, first movers eat meat, followers drink soup, and the clueless take over the bags.

Actual operations should be based on real-time order book data. For more information, contact the author. This article has publishing delays—for reference only, risk at your own discretion #美联储维持利率不变 $BTC