Trading in the cryptocurrency market is a long-term plan, not something that can be achieved overnight, so one should not be overly anxious. Even if there are losses in the short term, there is nothing to fear. As long as the subsequent direction is correct, what is lost will eventually return. However, it is important to grasp the timing of trades and the current market trends to improve the probability of winning. At the same time, investing is also a process of growth. Mr. Coin suggests that all cryptocurrency friends should learn while operating, summarizing gains and losses in a timely manner, deepening their understanding of risks, and planning the correct mindset. Only then can risks be reasonably avoided, and one can become a qualified investor.

Mr. Coin's Analysis Reference for Bitcoin (BTC) on March 20

The 4-hour chart shows a bullish candle with a long lower shadow, rebounding quickly after testing support at the key level of 69000. There is obviously buying power supporting this position. Although there has been a three-candle consecutive decline on the daily chart, it has not broken below the key support level of 68500, and a potential double bottom structure is forming on the chart.

From the indicators, although the 4-hour MACD is still in a death cross state, the bearish momentum bars are shortening, and the downward momentum is weakening. The daily MACD is currently in a golden cross state, indicating that the structural rebound in the larger cycle has not been destroyed. From the moving averages, the price has risen above the 4-hour EMA7 line but is still under pressure below the EMA30. The short-term moving averages have not fully strengthened. In terms of volume, the day of the sharp drop on March 18 saw a recent high volume of 8373, which is typically indicative of panic sell-off. However, the current rebound volume is only 576, which is significantly reduced, indicating that there is not a strong willingness to chase prices. If volume cannot increase subsequently, the sustainability of the rebound may be discounted.

Overall, the support in the 69000-68500 area is effective, and the daily chart still shows a bullish structure. However, due to the rebound lacking volume, the difficulty of a direct V-shaped reversal in the short term is considerable, and it is likely to oscillate around the 70000 range. See you tomorrow. Follow Mr. Coin for real-time market analysis.

Short-Term Reference for Bitcoin on March 20:

In the 71000-72200 range, take a long position, defend at 74500, with a stop loss of 500 points, targeting around 70000,

In the 68300-69300 range, take a short position, targeting above 70300, stop loss of 500

There may be delays in sending information, strategies are for reference only, the market changes rapidly, regardless of how confident you are in market judgment, always ensure to manage profits and losses carefully, securing profits is crucial.

For more real-time trades daily, please follow the public account (Mr. Coin Talks About Coins) to access online technical learning, how to unlock positions, etc. I have studied the market for many years, focusing on the overall trends in the cryptocurrency market, and have studied in-depth analytics for BTC, ETH, DOT, LTC, FIL, EOS, BCH, ETC, etc. For those who are unsure about trading, feel free to study and learn together.

 For more real-time trade strategies, online technical learning, how to unlock positions, etc., you can follow the mentor's public account (Mr. Coin Talks About Coins) to access ways to add: the first ten people daily can receive free position unlocking strategies.

This content is exclusively shared by Mr. Coin in the cryptocurrency circle and represents Mr. Coin's unique perspective. There may be delays in sending the article; please take risks at your own discretion. Reasonable control of your position is necessary; do not trade heavily or fully. Mr. Coin hopes that all fans can achieve financial freedom and strive together. In the depths of time, hold onto someone who understands. In investing, learning to be optimistic is essential. Don't let your future self dislike your current self. We live authentically, but not every piece of data needs to be taken too seriously. Let the past be the past, and look forward to a swift arrival of the future! Take good care of yourself, prepare yourself, and always be ready to take action. Let's go!

—— This article is written by Mr. Coin in the cryptocurrency circle, and we refuse to plagiarize; please respect originality!

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