Cryptocurrency Scholar: Bitcoin fell again on March 27! Those who chased high are crying, while those who shorted are laughing! The next target has been clearly defined! Latest market analysis and thought reference
Bitcoin's current price is 68300. Are there people slapping their thighs watching Bitcoin drop from 71500 to 68200? Either they chased high and got trapped above 71000, or they cut losses below 69000. In fact, the script for this wave of the market was written long ago. I provided the strategy to head south from 71500 in advance, targeting 69000. The price has now dropped below 68500, completely confirming the judgment. The cryptocurrency market has never relied on luck to make money; understanding trends and executing strictly is the only way to profit when others are in panic.
Since the daily K-line peak retreated, it has been under pressure below the short-term moving averages. MA20, MA30, and MA60 have formed a complete southward arrangement, and the medium-term upward momentum has completely exhausted. After the MACD death cross, the green bars continue to expand, with southward momentum continuously accumulating; the Bollinger Bands open downwards, and the price is running close to the lower track, indicating a clear downward trend. 7100 has turned from support to strong resistance, with the first support below looking at 68000. If it breaks below, we look further to the range of 65000 to 59800, and the daily southward trend will continue.
The four-hour chart has broken below the converging triangle support at 69000, confirming the downward breakout, and the direction of the trend is completely pointing south. The price is under pressure below the MA20 and MA30 moving averages, and the short-term moving averages are forming a southward arrangement; after the MACD death cross, the green bars continue to expand, with DIF and DEA moving downwards simultaneously, providing ample southward momentum. The Bollinger Bands open downwards, and the price is running close to the lower track, indicating a clear downward trend. The upper limit of 70000 is the short-term resistance level, while the lower limit of 68000 is the first support level, and the four-hour level southward trend will continue.
Short-term strategy reference: Follow the trend of the larger cycle, with small stop losses and quick entries and exits.
For the lower range from 68300 to 68000 going north, stop loss at 67800, target looking at 69000 to 70000 cautiously going north.
For the upper range from 69000 to 70000, go south in batches, stop loss at 70500, target looking at 68500 to 68000; if it breaks below, continue to look at 65000 to 60000.
The cryptocurrency market has always been about those who are aware and proactive eating the meat, while those who are late to realize drink the soup, and those who are oblivious take over the losses.
Specific operations should be based on real-time market data. For more information, you can consult the author. There may be delays in article publication, and it is recommended for reference only at your own risk.
