Cryptocurrency Scholar: Bitcoin's rebound on March 31 is weak, continuing its downward trend; holding firm on the 68,000 position and not being shaken off the train by fluctuations! Latest market analysis and thought references

Bitcoin's current price is 66,300. Yesterday, I exited during the northward movement and currently hold 68,000 going south, with profits gradually expanding. This wave of market first captured short-term profits from the northern movement, and now I am holding onto mid-term profits from high positions, with a steady pace. Some people ask me why I don't trade frequently? In fact, trading is like this; after understanding the trend, holding onto reliable positions is more important than frequent entries and exits. The market is still providing profits from the southward movement, so don't rush to get off; patiently wait for the target to be realized.

Bitcoin's daily candlestick chart shows a bearish volume-price correlation, with declining trading volume during the rebound phase and low willingness for funds to enter from the north. The price is forming a volatile range between 66,000 and 67,500, which is a typical continuation pattern during a downtrend. The Bollinger Bands are opening downward, with the price running near the lower band, not touching the middle band's pressure; if it effectively breaks below 65,130, it will further test the key support at 59,800. The daily level bearish space is still opening, and short positions should continue to be held.

The four-hour chart shows weak volatility within a descending channel; the candlestick pattern reflects weak rebounds and supportive declines. After multiple dives to the low of 64,918 and bouncing back, the rebound candlesticks are short, with severely insufficient volume. The MA20, MA30, and MA60 are showing a downward divergence, with the price continually under pressure below the MA30, and the short-term moving average's suppression effect is significant. MACD's northward momentum is lacking, only representing a technical recovery after a sharp decline. The Bollinger Bands are oscillating within a narrowing channel; a break below the lower band will confirm the breakdown of the descending channel, opening further downward space; conversely, a rebound near the middle band will primarily focus on short positions at highs, temporarily holding the 68,000 southward position to align with the mid-term southward trend.

Short-term strategy reference: Align with the major cycle trend, small stop-loss, quick entries and exits

From below 66,000 to 65,400 going north, stop-loss at 64,800, target looking at 67,000 to 68,000, breaking through looking at 69,000

From above 67,500 to 68,000 going south, stop-loss at 68,500, target looking at 66,500 to 66,000, breaking below looking at 65,000

In the cryptocurrency circle, those who are perceptive and foresighted eat the meat first, those who realize later drink the soup, and those who are unaware end up taking the loss.

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