3/22 Bitcoin Outlook

Bitcoin previously broke below the triangle range and refreshed lows, but this probe downward appears more like washing out liquidity from long positions at lower levels. After hitting new lows, it did not continue weakening. Instead, it formed a hammer candlestick, indicating significant buying support below.

Key focus is whether it can now stabilize above 69222:
• Breaking above: This round of decline comes to an end, likely consolidating in the 69222–70400 range
• After breaking 70400: Potential to continue attacking the 71505 resistance level

This sudden decline is mainly because the previous two attempts to breach the 71974 high both failed, with each high getting progressively lower and insufficient upside momentum. Whales chose to seek stronger support below and attract buying volume.

Trading Suggestions:

• Volume breakout above 69371 with stabilization: Can chase longs on the right side

• Volume breakdown below 68715 with failed pullback retest: Can chase shorts on the right side

Strictly set stop losses.

• 1-hour: Stabilize above 69371 → Watch 70507–71355

• 4-hour: Break below 68771 → Watch 68168–67359
$BTC #Gate13周年全球庆典