3.30: BTC trend adopts a similar approach, potentially continuing to repeat downward movements

Bitcoin is currently in the near-midterm phase of a bear market, with prices continuing to move in a rapid decline followed by sideways consolidation. It is now at the end of the sideways consolidation after the second decline. The price still fails to show enough bullish momentum; whenever there is a slight upward movement, it is sold off and pushed back down. Based on current prices and circumstances, the market expects higher demand to push prices up, but instead, it will further retreat and lower prices, making it easier for large investors to buy the dip later on.

The price continues to consolidate, and after breaking through the upper boundary to form a bullish technical breakout, it pulls back. Currently, it is near the support of the short-term retracement after breaking the upper boundary, so there is some support for the price. Today, we see a slight rebound, which is very similar to the situation on January 28, where after breaking out from a high level, it pulled back to the support boundary, rebounded slightly, and then continued to accelerate downward. Therefore, the upcoming trend is still expected to continue declining in the bear market. After a short rebound, prices are likely to be sold off again and fall further.

For trading, it is recommended to short in the 68,000-69,000 range, with a stop-loss at 70,000, targeting 66,000, 64,000, and 62,000.