3.20 Bitcoin (BTC) Market Analysis Reference

4-hour chart: A bullish candle with a long lower wick has formed. After testing support at the 69,000 round level, there was a quick rebound with obvious buying pressure at this position. Although the daily level shows three consecutive bearish candles in pullback, it hasn't broken the key support of 68,500 (the previous low). The chart is currently forming a potential double bottom structure.

From an indicator perspective: The 4-hour MACD is still in a bearish divergence state, but the bearish momentum histogram is shortening, indicating weakening downward momentum. The daily MACD remains in a bullish crossover state, and the larger timeframe rebound structure hasn't been broken. Looking at the moving average system, price has already moved above the 4-hour EMA7, but is still under pressure below EMA30. Short-term moving averages haven't fully strengthened yet.

In terms of volume: The crash on March 18 saw a recent peak volume of 8,373, typical panic selling. However, the current rebound volume is only 576, clearly reduced, indicating weak capital interest in chasing highs. If volume doesn't increase subsequently, the sustainability of this rebound may be compromised.

Overall: The 69,000-68,500 support zone is effective, and the daily level still shows a bullish structure. However, due to the rebound lacking volume, a direct V-shaped reversal in the short term will be difficult. It will likely oscillate in a range around 70,000. See you tomorrow. Follow Coin Master, bringing you real-time market analysis.

3.20 Bitcoin Short-term Reference:
- Long: 71,000-72,200 zone, defend 74,500 resistance, stop loss 500 points, target near 70,000
- Short: 68,300-69,300 zone, target above 70,300, stop loss 500 points

*Message transmission has delays. These strategies are for reference only. Markets change rapidly. Regardless of how accurate your market judgment is, always set your take-profit and stop-loss levels—secure your profits.

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