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BTC $83,278.78 +0.23%
ETH $2,670.18 +0.84%
BNB $758.07 -1.00%
XRP $1.49 +0.63%
SOL $118.02 -0.82%
TRX $0.3342 +0.15%
DOGE $0.0935 +0.27%
ADA $0.2441 -0.70%
BCH $306.57 -2.67%
LINK $14.84 +7.73%
HYPE $87.42 -2.32%
AAVE $150.81 +0.90%
SUI $1.12 -7.27%
XLM $0.2245 +7.22%
ZEC $1,387.37 -10.91%
AAPL $337.33 -0.92%
AMZN $245.93 -1.21%
GOOGL $341.80 +0.01%
MSFT $507.30 -1.90%
META $711.79 -2.81%
NVDA $228.29 +1.86%
TSLA $356.29 -3.67%
SNDK $1,689.76 -2.26%
INTC $114.47 -3.85%
SPCX $145.71 -2.24%
MU $1,048.39 -1.41%
AMD $603.91 -1.90%

Analysis: The current trend of Bitcoin is similar to the previous plunge to 600,000 dollars, with 65,800 dollars being the key support level

2026-03-20 15:34:10

According to CoinDesk, the current trend of Bitcoin is highly similar to the price structure that ultimately triggered a drop to $60,000 between November 2025 and January 2026. From a technical perspective, since hitting the bottom in early February, Bitcoin has formed a narrow, slightly upward-sloping channel between two trend lines, mirroring the previous sideways movement after the drop from $100,000.

At that time, the market also exhibited a slow, oscillating upward crawl, ultimately leading to a false breakout where the price plummeted straight from about $90,000 to nearly $60,000. Technical analysis refers to such patterns as "counter-trend rebounds," which are small recoveries that occur within a downtrend. The current rebound lacks explosive momentum, which is a typical signal of bull exhaustion; the market may just be catching its breath, waiting for bears to regain strength.

$65,800 is a key support level. If Bitcoin falls below the current lower boundary of the channel at around $65,800, it would mean that bears have regained control; if it breaks upward through the channel, the downtrend may lose momentum, and bulls could be poised for a strong counterattack. Bitcoin is currently at a critical decision point, and the direction remains unclear.

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