3/20 Bitcoin Public Analysis

Bitcoin previously broke below the 70406 level, but the key support at 69222 was not effectively breached, showing only a false breakdown with a wick. The closing price remained firmly above this level, with the support still effective.

Currently, 70406 has become the core resistance level. Only by holding above this position can a rebound be initiated, looking up toward 71505 and higher levels. If it cannot break through, it will likely consolidate within the 70406-69222 range.

If a subsequent pullback breaks below the 69222 support, downside targets are 68227 and 67266.
If 70406 is successfully broken and held, the decline phase ends;
If it continues to oscillate within the range, it will likely retest the previous low at 68750. If not breached, another rebound occurs; if broken, the decline expands.

Trading Recommendations:
• On volume breakout above 70406, can go long on the right side

• On volume break below 69681 and failure to hold on a retest, can go short on the right side
Maintain strict stop losses

Level Targets
• Hourly: Hold above 70406, upside targets 71613-72813

• 4-hour: Break below 69314, downside targets 68279-67335
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