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March 23 BTC Swing Trading Strategy
Long Position Plan: Enter long at 68000 support level, stop loss at 67200, targets at 69500/70900/72000, risk-reward ratio 1.8x. 68000 is a psychological round number and previous dense trading zone. Combined with oversold funding rates, there is a technical bounce opportunity.
Short Position Plan: Enter short at 70900 resistance level, stop loss at 71600, targets at 69500/68000/66500, risk-reward ratio 2.1x. 70911 is a strong resistance that has failed multiple tests. If the bounce encounters resistance, short in the direction of the trend.
Recommendation: Choose based on actual price action. If price directly stabilizes below 68000, go long. If it bounces to 70900 with stalled momentum, go short. Current trend is bearish biased, so shorting has relatively higher win rate.