Crypto Scholar: BTC's March 20 High-Level Pullback Confirmed, Bottom-Fishing Should Wait Until 68000 at Minimum! Latest Market Analysis and Trading Reference

Bitcoin's current price is 69700. This BTC sharp decline is not the end of the world, but it's definitely not a good time to bottom-fish! With the pullback from 75998 to 68750, many people panicked—either holding stubbornly or recklessly buying the dip. Remember: trading prioritizes capital preservation first, then profit. Following the downward momentum is more reliable than gambling on a bounce! BTC's downtrend has already formed resonance across daily, 4-hour, and 30-minute timeframes. Holding long positions will only deepen losses. Friends with empty positions should prioritize following the downtrend—don't fantasize about catching bargains. Preserving capital always matters more than stubbornly waiting for recovery!

Daily timeframe shows a top confirmed with downtrend established. The K-line pattern formed a dark cloud cover combined with consecutive bearish pullback, the trend broke below the critical support at 74000, now trading below the Bollinger Band mid-line. The Bollinger Band mouth is opening downward, confirming short-term peak signals. MACD signal bars rapidly turned green to red, DIF and DEA formed a bearish death cross, RSI pulled back from highs to around 40, indicating bull momentum is completely exhausted. Bears have taken full market control. Support at 69000—if broken, will probe further toward 68000 or lower.

4-hour timeframe pierced the 70000 level, weak consolidation pattern difficult to change, briefly stabilizing around 69000. Currently in weak consolidation with EMA forming bearish alignment, price firmly capped below the mid-line. Any bounce is a bear trap, absolutely not a reversal signal. MACD green bars continue expanding, RSI dropped to around 25 in oversold zone. While oversold bounce expectations exist, magnitude will likely be limited, unable to change the weak pattern. Key resistance above: 70200-70500; key support below: 68800-69000. Range-bound consolidation probable; after breakdown, downtrend continues.

Short-term reference strategy: Markets have no 100% certainty, so always use stop-losses—safety first. Small losses with big gains is the goal.

Lower 68800 to 69000 long position, stop-loss at 68500, target 69800 to 70000. This is betting on oversold bounce, not trend-following long trades. Recommend controlling position size with tight stops, quick entry-exit! Never get emotionally attached.

Upper 70200 to 70500 short position, stop-loss at 71000, target 69500 to 69000. If price breaks below 69000, continue targeting 68500 to 68000.

In crypto, the early birds eat the meat, the late comers drink the soup, and the clueless take the bag.

Specific operations should be based on real-time order book data. For more information, consult the author. This article has publication lag—recommendations are for reference only. Risk assumed by reader. #美联储维持利率不变 $BTC