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ETH $2,172.05 -4.02%
BNB $653.70 -5.02%
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AAVE $88.52 -8.10%
SUI $1.04 -8.45%
XLM $0.1507 -5.44%
ZEC $487.51 -9.31%
BTC $77,892.84 -3.51%
ETH $2,172.05 -4.02%
BNB $653.70 -5.02%
XRP $1.41 -4.56%
SOL $85.86 -6.04%
TRX $0.3518 +0.03%
DOGE $0.1086 -5.83%
ADA $0.2535 -5.47%
BCH $412.25 -4.67%
LINK $9.65 -6.66%
HYPE $40.88 -10.39%
AAVE $88.52 -8.10%
SUI $1.04 -8.45%
XLM $0.1507 -5.44%
ZEC $487.51 -9.31%

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
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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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