Crypto Expert: Bitcoin's rebound on March 31st faltered, continuing its downward trend. Hold firmly to the 68,000 level and avoid being shaken out by market fluctuations! Latest market analysis and strategy reference.
Bitcoin is currently priced at 66,300. Those who traded northbound yesterday have already exited and are now holding positions going southbound at 68,000, with their unrealized profits steadily increasing. This market move first yielded short-term profits for those trading northbound, and now they're holding medium-term profits from short positions at higher levels, maintaining a very stable pace. Some people ask why I don't trade frequently. The truth is, in trading, once you understand the trend, holding onto positions you're confident in is more important than frequent entries and exits. The market is still providing profits for those trading southbound, so don't rush to exit; just patiently wait for your target price to be reached.
Bitcoin's daily candlestick chart shows a bearish bias in both price and volume, with trading volume consistently shrinking during rebounds and weak buying interest from northbound funds. The price has formed a consolidation range between 66,000 and 67,500, a typical continuation pattern within a downtrend. The Bollinger Bands are widening downwards, with the price trading near the lower band and failing to reach the middle band resistance. A decisive break below 65,130 would further test the key support level of 59,800, opening up further downside potential on the daily chart. Short positions should be maintained.
The price is currently in a weak, oscillating pattern within a downward channel, with the candlestick pattern showing weak rebounds and support levels during declines. After multiple tests of the 64918 low, it has rebounded, but the rebound candlesticks are short-bodied and lack significant volume. The 20-day, 30-day, and 60-day moving averages are diverging downwards, with the price consistently under pressure below the 30-day moving average, indicating a significant short-term moving average resistance. The MACD shows weak upward momentum, suggesting only a technical correction after an oversold condition. The Bollinger Bands are oscillating within a narrowing channel. A break below the lower band would confirm a breakdown in the downward channel, opening up further downside potential. Conversely, a rebound to the middle band would present an opportunity to sell on rallies, while holding short towards the 68000 level would align with the medium-term downward trend.
Short-term trading strategy: Follow the long-term trend, use small stop-loss orders, and trade quickly.
Northbound movement from 66000 to 65400, stop loss at 64800, target 67000 to 68000, break above to 69000.
A move south from 67500 to 68000 is recommended, with a stop-loss at 68500 and a target of 66500 to 66000. A break below this level could lead to 65000.
In the crypto, those who are prescient reap the rewards, those who are slow to react get the scraps, and those who are oblivious end up losing everything.
For specific operations, please refer to real-time market data. For more information and details, please contact the author. There may be a delay in article publication; this advice is for reference only, and you assume all risk.
