#国际油价下跌
Morgan ETF is favorable, why is BTC still struggling at 71,000?
Current BTC price: 71244 USDT, analysis: March 26, 09:48
Good morning everyone, I am Qinglan. The coffee just brewed, and seeing the price still hovering around 71,000, isn't it a bit anxious? Let's calmly look at the data.
From a multi-timeframe perspective, the 15 minutes to 4 hours are oscillating in the narrow range of 71,000-72,000, a typical consolidation. On the daily level, the price is entangled near the 5-day and 10-day moving averages, with no clear direction. The key resistance level is at 72,000, a point that has been tested multiple times recently without success; the support below is first at 70,500, with strong support near 69,000. The sentiment is very honest, the fear and greed index has been in the extreme fear range of 10-14 for three consecutive days, and on-chain data shows that large holders are accumulating stagnantly, with weak demand. Although there is news of Morgan Stanley ETF listing, the trading volume has not increased, indicating that funds are still watching.
In terms of trading, Qinglan suggests not to chase highs. The current price is neither up nor down, and the risk-reward ratio is not suitable.
Aggressive traders can wait for a rebound to around 71,800 to take a small short position, placing a stop loss at 72,500, with a target of 70,000. For conservative traders, just wait for it to choose its direction; consider shorting if it breaks below 70,500.
My personal feeling is that the market is very twisted right now; if good news doesn't lead to a rise, be careful. Don't let one or two news pieces cloud your judgment; protecting your capital in a bear market is more important than anything. Be patient and wait for a clearer signal.
⚠️ Disclaimer: This analysis is for reference only and does not constitute investment advice. Cryptocurrency is highly volatile, so manage your risk well. The latest market conditions are based on Qinglan Crypto Classroom qinglan.org!