Trading in the cryptocurrency market is a long-term plan, not something that can be achieved overnight, so one should not be too hasty. Even if there are losses in the short term, there's nothing to be afraid of. As long as the subsequent direction is chosen correctly, what is lost will eventually return. However, it is important to grasp the timing of trades and the current market trends to improve the win rate. At the same time, investing is also a process of growth. Mr. Coin suggests that all friends in the cryptocurrency space should learn while operating, summarize their profits and losses in a timely manner, deepen their understanding of risks, and plan their mindset correctly. This is the only way to reasonably avoid risks and become a qualified investor.

Mr. Coin's Analysis Reference for Bitcoin (BTC) on March 23

On the 4-hour level, consecutive bearish candles have driven the price down from 68814 to 67959, and a very clear short-term descending channel has formed. The key support is at 67300, where the previous low has been tested. Although it has rebounded currently, it is important to note that this is merely a test, there is no volume and no reversal. Shifting to the daily chart, the large bearish candle on March 19, from 68750 to 69926, has directly outlined the top profile. More critically, the bulls have not even touched the 71077 high for the next three days, directly forming a secondary peak pullback pattern, which is typical of upward exhaustion.

In terms of indicators, we can see that the MACD 4-hour DIF is already at -845, crossing below the zero line, and bearish momentum is starting to transmit downward. On the daily MACD histogram, it has accelerated its contraction from 142 to -251, indicating that the bullish defense line is collapsing. On the weekly level, the top divergence has already been confirmed, which is a medium to long-term signal that cannot be ignored. The moving average system is more intuitive. The price has now fallen below all EMAs—the 7-day, 30-day, and 120-day have all failed. On the 4-hour chart, a multiple resistance zone has formed from 68000 to 70316. This means that if the rebound cannot surpass this area, it can only be treated as a pullback.

From the perspective of volume, the plunge on March 22 was accompanied by a volume increase exceeding 210,000, surpassing the 20-day average volume, which is a typical breakout on increased volume. In contrast, during the current 4-hour rebound, the volume is only around 20,000, which is less than one-tenth of the previous high volume, a typical low-volume pullback. Overall, the weekly top divergence is established, the daily top structure is confirmed, the 4-hour is in a descending channel, low-volume pullback, all moving averages are broken, and key support has been repeatedly tested but has not successfully reclaimed. Currently, the market is still in a weak oscillation with a downward trend in its center of gravity. In terms of operations, bulls should wait for right-side signals, at least steady above 68000, and only consider a volume breakout from the resistance zone. For bears, the strategy is to wait for a pullback near the resistance zone, in conjunction with stagnation signals, and act accordingly. Follow Mr. Coin for real-time market analysis.

Short-term Reference for Bitcoin on March 23:

In the 70500-71500 range, defend at 74500, stop loss 500 points, target below 70000.

In the 66500-67500 range, target above 68500, stop loss 500.

The article distribution may have delays; strategy suggestions are for reference only. The market changes rapidly, regardless of how high you assess your judgment of the market, always manage your take profit and stop loss properly to ensure safety.

For more real-time trades every day, you can follow the official account (Mr. Coin Talks Crypto) for updates. You can also learn technical analysis online, exit strategies, etc. I have studied the market for many years and researched major trends in the cryptocurrency space, focusing mainly on analyzing and guiding BTC, ETH, DOT, LTC, FIL, EOS, BCH, ETC, and other coins. For those who do not know how to operate, welcome to study and learn together.

  For more daily real-time trading strategies, technical learning online, exit strategies, etc., you can follow the advisor's official account (Mr. Coin Talks Crypto) for contact methods: the first ten names daily can receive free exit strategies.

The content of this article is exclusively shared by Mr. Coin in the cryptocurrency market and only represents Mr. Coin's unique viewpoint. There may be delays in article distribution, risks are self-borne, and positions should be reasonably controlled in trades. Avoid heavy or full positions. Mr. Coin wishes all followers to achieve financial freedom, moving forward together, and encouraging each other. In the depths of time, hold onto understanding. In investment, it is essential to learn optimism. Do not let your future self dislike your present self. We are living genuinely, but not every revealed data needs to be taken seriously. Let the past be the past, and let the future come quickly! Take good care of yourself, sharpen your weapons, and always be ready to set out. Keep going!

—— This article is written by Mr. Coin in the cryptocurrency market, refusing plagiarism and respecting originality!

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