3.31 #BTC Trading Strategy

Currently, Bitcoin has returned to around 68,000 with sideways movement. The current price is around 67,950. From the market view, the price dipped to a low of 66,229 intraday and then quickly rebounded, with a high of 68,193. This indicates there is support below, but the upper side is also approaching the intraday resistance zone. So, this looks more like a rebound from a low point with a high-level tug-of-war, and it cannot yet be considered a strong bullish breakout.

Key zones to watch today:
Upper resistance: 68,000—68,200, with strong resistance at 68,500—69,000;
Lower support: 67,500—67,200, with strong support at 66,800—66,200.

In terms of operation: If the price rebounds to the 68,000—68,200 zone and shows weakness in breaking higher or cannot stabilize, consider a light short position, first watching the 67,500—67,200 zone. If it breaks below that, then look at around 66,800. If the price tests 67,500—67,200 without breaking down and shows signs of stopping the decline, you can consider a short-term long position, aiming for a test of the recent high near 68,193. The current intraday fluctuation range is primarily between 66,229 and 68,193, so short-term focus should be on this range for sideways movement.

If later the price breaks above 68,200 with increased volume, there is a chance to test higher levels around 68,500—69,000. But if it breaks below 67,200, it indicates the rebound momentum is weakening, and watch for a retest of the 66,800—66,200 zone.

Summary: Stay cautious of sideways movement below 68,200, leaning towards a high-level short position; as long as 67,200 holds, there is room for further upward movement.