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3.19 Thursday Muwind Afternoon Market Analysis
Bitcoin dropped from around 71500 in the afternoon and even broke through the key support at 70000, directly retesting around 69500. Many people panicked shouting "the rebound is over," but it's not that pessimistic. As long as 69000, the starting point of the uptrend, hasn't been broken, the hourly-level bullish trend is still intact, just temporarily entering a weak consolidation zone.
The first retest of 69500 has already been completed. Next, there will likely be another retest. If the low point of the second retest is higher than the first, it will form a double bottom pattern. For those looking to buy the dip, hold your patience and don't get swayed by short-term fluctuations.
Trading Suggestions
Bitcoin: Long around 69500, target 72000
Ethereum: Long around 2130, target 2250