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One day left until April 1st. Over the past two months, Bitcoin (BTC) dropped to a low of 60,000, then rebounded to a high of 76,000, and then crashed back down to 65,000 on the morning of March 30th. Calculating this, 76,000 - 65,000 = 11,000, so it fell by 11,000 dollars.
Now it’s starting to rebound from 65,000.
A rebound of 3,500 dollars is a weak rebound; a typical rebound is 5,500; a strong rebound is 8,000; and a very strong rebound is 10,000 dollars.
65,000 + 3,500 = 68,500 (weak rebound)
65,000 + 5,500 = 70,500 (average rebound)
65,000 + 8,000 = 73,000 (strong rebound)
Da Bing personally estimates that the current trend is likely a typical rebound to 70,000-71,000. Once it hits 70,000, all short-term long positions taken for bottom-fishing should be closed to take profits and rest until April 6th, to see if Trump’s ceasefire holds or if there will be further action.
Currently, the daily chart has a medium-sized bullish candle, and the three-day chart also shows a small bullish candle. The short-term rebound from 65,000 has been quite good. It’s recommended to hold for another two days and see what happens by April 1st.
The US stock market has also started to rebound, shifting from decline to rise. Trump is softening his tone and talking about negotiations. The March line has already surpassed 67,000, clearly indicating a bullish candle formation.
$BTC
Summary: 76,000 - 65,000 fell by 11,000 dollars.
Da Bing thinks that a typical rebound to 65,000 + 5,500 = 70,500 is about right. The daily, three-day, and monthly charts are all showing upward momentum. Holding for three days will reveal the high point of the rebound.
Once it reaches 70,000, it’s time to close long positions and wait for the next move. After that, we’ll have to wait until April 6th for Trump’s new instructions.