3.20 Evening Bitcoin and Ethereum Market Analysis and Trading Recommendations

From a chart perspective, the 70,000 level is not only a whole number psychological barrier, but also overlaps with the support effect of a previous dense trading zone. The fact that price can stabilize here itself indicates that the bulls have not abandoned their resistance. More importantly, after the market digested selling pressure, there was no further collapse; instead, it attempted to establish a new offensive position. This attitude of defending to attack often signals the prelude to a rebound rally.

If 70,000 can effectively transform into the launch platform for this round of rebound, then testing the 71,500-72,000 zone upward will be a high-probability event. This zone is important not only because it is a key resistance band at the daily chart level, but also because it has previously served multiple times as a watershed between bulls and bears. Once the bulls can break through this zone, the chart nature will undergo a fundamental transformation, upgrading from a small-level rebound to a trend-based counterattack, with sufficient momentum reserves for subsequent secondary rallies or even challenging previous highs.

From an operational rhythm perspective, the current approach can be biased toward finding opportunities based on support levels. The 69,000-69,500 zone below serves as the second line of defense recently constructed by the bulls. As long as this zone remains intact, the rebound structure is not destroyed. In other words, above this defense line, each pullback can be viewed as a confirmation of the rebound's continuation. Should an unexpected breakdown occur, there is no rush to reassess risk at that point.