Cryptocurrency Circle Scholar: On March 23, Bitcoin's weak rebound shows characteristics of luring buyers, trading strategy selection in the bottoming stage at 68300! Latest market analysis

　 Bitcoin is currently at 68300. In recent days, BTC's market situation is a matter of whether to profit or to take losses, all depending on mindset. From advising against bottom fishing above 71000, leading to a downward trend to 68300, those who followed the rhythm have locked in profits, while those who did not listen are still being washed by the market repeatedly. Trading has never been about luck; it is about controlling risk first and discussing profits afterward, this lesson must be engraved in mind.

　 On the daily chart, Bitcoin has continued to decline near 68300 after a significant drop from the 74000 level, forming a cloud cover pattern that penetrates the key support at 74000, indicating a continuation of the trend after a breakout. The price has fallen below the middle band of the Bollinger Bands at 70217, with the MACD green bar turning red and continuing to expand. The RSI has fallen from a high position to below 45, indicating that the bullish momentum is completely exhausted, and bears dominate the market. The range from 74000 to 76000 has shifted from support to strong resistance, while strong support is at 68000 to 68500; short-term resistance is at 70000 to 71000.

　 The four-hour trend clearly indicates a weak downward movement since reaching the peak at 75998. It is currently operating near 68300, and EMA moving averages are forming a bearish arrangement. The price is firmly pressed below the middle band at 69801, any rebound is a lure for buyers. The MACD green bar continues to expand, and the RSI has dropped to around 38, indicating that short-term bearish momentum is still being released, with a clear weak downward pattern. Resistance above is between 70000 to 71000, while below support will further test the 67000 level if the 68000 to 68500 support is breached; these need to be closely monitored.

　 Short-term strategy reference: Comply with the trend of the larger cycle, with small stop-losses for quick entries and exits.

　 For the lower range of 68000 to 68500, scale up in batches with a stop loss at 67800, aiming for 69500 to 70000.

　 For the upper range of 70000 to 71000, scale down in batches with a stop loss at 71500, targeting 68500 to 68000. If the price breaks below 68000, look for further declines to 67500 to 67000.

　 In the cryptocurrency circle, the early birds feast, the latecomers sip soup, and the oblivious take over the plates.

　 Specific operations should be based on real-time market data. For more information, please consult the author. The article publication may have delays, so it is recommended for reference only, with risks borne by the reader.

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