3.31 Bitcoin Trading Strategy

Yesterday's market surged then pulled back; during the white hours, it rose, but during the US session, it faced resistance and declined. The morning session saw a rise from a low of 66,570 to 66,810 before encountering resistance. The lowest point was around 66,200 in the early hours. The bulls and bears are fiercely competing, and in the short term, the market remains in a range-bound oscillation pattern.

The daily chart signals are clear. Yesterday's price temporarily broke through the previous low but quickly recovered. Today’s market shows a clear need for a rebound and correction. In the short term, a slight upward move or even a series of green candles could occur, but the rebound's magnitude should be strictly controlled. If the rally exceeds too much, it will damage the existing downtrend structure. The maximum rebound should not break through the 70,000 level. As long as the price remains below 70,000, even if small bullish candles or doji patterns appear, it still belongs to a rebound correction. After the correction, the overall trend will continue downward.

Looking at the four-hour chart, after continuous adjustments, the overall trend remains weak. However, the decline has not further extended, and the Bollinger Bands are moving sideways. The MACD indicator shows a bullish crossover upward, but the KDJ indicator's three lines are diverging downward in a bearish trend, indicating a clear divergence between bulls and bears. Currently, the price is in a low zone with no signs of further decline. After a brief rebound, the market is temporarily not expected to turn bearish and will likely continue with a slight upward correction.

Intraday Trading Strategy
Long Position Strategy: Buy on dips around 66,500-66,000 support levels in batches. Focus on the 67,800 resistance level; if broken, look for further gains toward the 68,500 range.
Short Position Strategy: Avoid aggressive trading around 67,200. Wait for the initial test of the 67,800-68,000 resistance zone to be rejected before considering short entries.
Overall, the market is expected to oscillate within the 66,000-68,500 range, and traders can choose key points for operation accordingly.
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