2026-03-19 08:05:01

3.19 Thursday Mufeng Afternoon Market Analysis

Bitcoin dropped from around 71,500 in the afternoon and broke through the key support of 70,000, directly retesting around 69,500. Many people panicked and shouted "the rebound is over," but it's not that pessimistic. As long as 69,000 (the starting point of the uptrend) hasn't broken, the hourly-level bullish trend is still intact, just temporarily entering a weak consolidation zone.

We've now completed the first test of 69,500, and the next move will likely be another retest. If the low point of the second retest is higher than the first, it will form a double-bottom pattern. Friends looking to buy the dip need to stay patient and not get thrown off by short-term volatility.

Trading Recommendations
Bitcoin: Long near 69,500, target 72,000
Ethereum: Long near 2,130, target 2,250

BTC-3,91%

ETH-4,37%

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