Analysis: The current trend of Bitcoin is similar to the previous plunge to $60,000, with $65,800 being a key support level.

On March 20, according to CoinDesk, Bitcoin's current trend is highly similar to the price structure that ultimately triggered a plunge to $60,000 between November 2025 and January 2026. From a technical perspective, since hitting the bottom in early February, Bitcoin has formed a narrow, slightly upward-sloping channel between two trend lines, reminiscent of the previous sideways movement after the drop from $100,000. At that time, the market also exhibited a slow, oscillating upward crawl, ultimately leading to a false breakout where the price plummeted from around $90,000 to nearly $60,000.

Technical analysis refers to this type of pattern as a "counter-trend rebound," which is a small recovery during a downward trend. The current rebound lacks explosive momentum, which is a typical signal of bull exhaustion; the market may simply be catching its breath, waiting for bears to regain strength.

$65,800 is a key support level. If Bitcoin falls below the current lower channel boundary of around $65,800, it will mean that bears are regaining control; if it breaks upward out of the channel, the downward trend may lose momentum, and bulls are likely to launch a strong counterattack. Currently, Bitcoin is at a critical decision point, and the direction is still unclear. #比特币走势分析