3-21. Market Analysis

Been busy lately and haven't updated, taking time over the weekend to discuss BTC trends.

60000 is definitely not the bottom of this cycle, likely to break lower subsequently, but will continue to consolidate and oscillate in the short term; 76000 is basically the cyclical high point of this rebound phase.

BTC pulled back over 7000 points from 76000, found support and bounced at the 4-hour trendline near 68000, this rebound will likely first test the 72000 level. Above 72000 saw volume surge followed by sharp drops, selling pressure is extremely heavy making it difficult to hold steady, likely to see a false breakout.

Recommendation: If 72000 breaks through but subsequently fails to hold steady and pulls back, it's a quality shorting opportunity.

This round of correction targets will likely move toward the 65000-66000 zone, where long position chips are concentrated, whales will likely harvest liquidity in this area.#Gate13周年全球庆典