Mr. Coin in the Crypto World: 3.20 Bitcoin (BTC) Market Analysis Reference

The 4-hour chart shows a bullish candle with a long lower shadow, quickly rebounding after testing support at the key level of 69000. There is significant buying support at this position. Although the daily level shows three consecutive bearish candles, it has not broken the key support level of the previous low at 68500, and a potential double bottom structure is forming on the chart.

From the indicators, although the 4-hour MACD is still in a death cross state, the bearish momentum bars are shortening, indicating a weakening of the downward momentum. The daily MACD is currently in a golden cross state, and the larger cycle's rebound structure has not been damaged. In terms of moving averages, the price has risen above the 4-hour EMA7 moving average but is still under pressure below the EMA30; the short-term moving averages have not fully strengthened. In terms of volume, the day of the crash on March 18 saw a recent high volume of 8373, typical of panic selling. However, the current rebound volume is only 576, showing a significant decrease, indicating that there is not strong willingness to chase high prices. If the volume cannot be replenished later, the sustainability of the rebound may be compromised.

Overall, the support in the 69000-68500 range is effective, and the daily level is still a bullish structure, but due to the weak rebound volume, it is challenging to have a direct V-shaped reversal in the short term. It is highly likely that it will continue to oscillate around the 70000 range. See you tomorrow. Follow Mr. Coin for real-time market analysis.

3.20 Bitcoin Short-term Reference:

In the range of 71000-72200, defensive at 74500, stop loss 500 points, target near 70000,

In the range of 68300-69300, target above 70300, stop loss 500

Messages may have delays; strategy suggestions are for reference only. Market conditions change rapidly. No matter how high your market judgment is, always manage your profits and losses, securing your gains #BTC #ETH🔥🔥🔥🔥🔥🔥 #ETH（二饼）