Today is March 21st, what's the situation with BTC?

Bitcoin is currently around $70,535, up 0.47% in the last 24 hours, hovering around the $70,000 mark with minimal volatility.

How does the technical analysis look?

Bears are currently in control, with prices being suppressed by short-term moving averages. The 30-day line has broken below the 120-day line, indicating a clear downtrend.
Resistance above is at 72,000-73,000, with strong support below at 69,000-70,000. A break below 69,000 could lead to a drop to 65,000.

What's the market sentiment like?

Everyone is panicked, with the fear index at only 11, which represents extreme fear.
Middle East conflict pushing oil prices up, inflationary pressure is high, institutions don't dare to buy, and futures demand has dropped to the lowest level since 2024.

How should we operate?

1. Main strategy: Short with light positions at 71,000-72,000, stop loss at 72,300-73,000, target 69,000-70,000.
2. Aggressive approach: Long with light positions at 68,400-69,000, stop loss at 67,700, target 70,400-71,200.
3. Risk control: Individual position size no more than 5%, must set stop losses, avoid heavy positions, wait for clear direction before adding.

Summary
Bitcoin is currently oscillating within a downtrend, with $70,000 as a key level. Before breaking through 73,000, focus on shorting, with short-term longs possible at support levels. High volatility requires strict risk management.

The above analysis is for reference only. Investment carries risk, be cautious when entering the market. #比特币 #Gate13周年全球庆典 #加密行情震荡 #我的周末交易计划