Crypto Circle Mr. Coin: March 19 Bitcoin (BTC) Market Analysis Reference

Many people have been asking these days, didn't it just break through a few days ago? Why is it starting to drop again? Don't worry, today we will talk about what situation counts as 'washout' after a breakout, and what situation counts as 'topping'. Let's take a look at the market changes that everyone is most concerned about. From the 4-hour level, a relatively obvious pullback signal has appeared: several consecutive bearish candles have already broken below the important short-term moving average — the support of EMA7. This indicates that the short-term upward momentum has been interrupted, and the market has entered a pullback cycle.

Switching to the daily chart, let's clarify the structure. On March 16, there was a long bullish candle with increased volume, which broke through the key resistance level and is very significant. However, remember that any healthy rise will not be a straight line. What the price is doing now is called 'pullback confirmation'. Currently, it is pulling back to the round number of 71000. Looking down, the more critical support is at 70000. 70000 is not only a round number but also the psychological defense line of this wave of market.

From the indicator perspective, MACD: at the 4-hour level, the fast line has crossed below the slow line, forming a death cross, which is a signal for short-term adjustment. At the same time, the MACD red bars at the daily level are starting to shorten, and the previous strong upward momentum has temporarily weakened. Moving average EMA: the price has broken below the 4-hour EMA7 (which is 72347), and a short-term rebound is testing the resistance of EMA30 (72539). EMA30 is known as the 'lifeline' of short-term trends, and whether it can break through is crucial. Looking downward, the larger bullish defense line is between 69500 and 70000. As long as this level holds, the medium-term upward structure remains intact.

Volume. The current 4-hour trading volume has shrunk to 1233 units. This indicates that the market is not panicking, but no one is in a hurry to buy; everyone is waiting and watching. This kind of shrinking pullback is not scary in itself, but what is scary is if there is a sudden increase in volume at a certain position, especially if it breaks below 70000, which could trigger a chain reaction of selling. Therefore, the next focus is on 70000. Holding here means a washout; failing to do so requires reevaluating the trend. See you tomorrow. Follow Mr. Coin for real-time market analysis.

March 19 Bitcoin Short-term Reference:

72800-71800 range long, defend at 73500 with a stop loss of 500 points, target below 71000,

70300-69300 range short, target above 71300, stop loss 500