Today is March 20th, BTC price 70846

1. BTC trend has undergone two rounds of decline, establishing two support platforms. The price broke through the 4-hour MA250 and rallied, then pulled back to the major moving average. Currently we see the red major moving average starting to turn upward, which indicates the market has entered a bullish trend. Bullish outlook - even with bad news or black swan events, there's no need to worry. Breaking below would be a buying opportunity. If things go smoothly, we could see a major recovery in April.
2. The 4-hour MA250 plays a very important role within the K-line. When price breaks below this line and fails to recover above it, it often means a prolonged downtrend. Conversely, when price breaks above this red line, it represents the beginning of an uptrend. Particularly after establishing a consolidation platform like this, at worst, spot positions are absolutely worth deploying.
3. The biggest positive catalyst is that the Bitcoin and cryptocurrency market structure legislation bill may pass in April. This bill includes participation from banks, pension funds, and several trillion dollars of liquidity flowing into the crypto market.