BTC $62,981.10 -0.80%
ETH $1,882.52 -0.28%
BNB $607.12 -0.56%
XRP $1.00 -0.96%
SOL $75.38 -0.86%
TRX $0.3323 -0.52%
DOGE $0.0700 -0.26%
ADA $0.1797 -1.58%
BCH $205.42 -0.68%
LINK $9.40 +6.27%
HYPE $56.42 -1.40%
AAVE $86.44 -2.22%
SUI $0.6810 -0.84%
XLM $0.1585 -0.67%
ZEC $497.09 +0.95%
BTC $62,981.10 -0.80%
ETH $1,882.52 -0.28%
BNB $607.12 -0.56%
XRP $1.00 -0.96%
SOL $75.38 -0.86%
TRX $0.3323 -0.52%
DOGE $0.0700 -0.26%
ADA $0.1797 -1.58%
BCH $205.42 -0.68%
LINK $9.40 +6.27%
HYPE $56.42 -1.40%
AAVE $86.44 -2.22%
SUI $0.6810 -0.84%
XLM $0.1585 -0.67%
ZEC $497.09 +0.95%

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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