《3.23 Market Analysis: It's Time to Test the Trend Line, Bitcoin Hold the Line!》

Over the weekend, Bitcoin finally failed to break through 70800 effectively and has been gliding down to around 67000. Bitcoin has gradually been testing the lower rail, and everyone now understands the importance of this major trend line. An effective break below the daily line will trigger a new round of downtrend, but if it holds here, there will still be opportunities to retest the middle rail or even the upper rail. Therefore, the price action over these two days is critical. Let me set up a scenario: perhaps the opening of US stocks will cause Bitcoin to first touch the trend line at 66600 and then rebound?

$BTC Bitcoin's support today is at 66600 and 66100. Stop loss for going long would naturally be breaking below the hourly candle low of 65500. If there's a fake break, it goes to 64200 first before rebounding. Upside resistance to watch is whether 69800 gets retested.

$SOL DOGE: The 85 support I mentioned last week has been reached. It would be best if it can rebound from here, if not, support is at 82. Upside resistance at 89.6 and 92.6.

$ETH Ethereum is currently in the range to 1995. First watch for a rebound at the current position, with support below at 1960. Further up, resistance is at 2115 and 2140.

In summary, Bitcoin is choosing to break below the middle rail on the daily chart and moving towards the lower rail and trend line. Logically, if it holds here, there will be a rebound, so this is our logic for finding rebound support at present. An effective break of the trend line on the daily could trigger a new round of sell-offs. Overall, the market logic isn't complicated—it comes down to who finds the entry position most accurately and who can hold their position to ultimately profit!

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