3.30 Monday Morning Bitcoin Latest Strategy

A new week, a fresh start, and also the final battle of the month. Wishing everyone a smooth and successful conclusion.

I was awakened by a mixed sound in my sleep. Upon hearing it, I saw that the market was starting to act up. A long lower wick candle appeared, and again started to lose composure. Bitcoin directly broke below the 650 support level. The bears are showing quite strong momentum, despite the obvious weak trend. At this point, blindly shorting is not advisable.

On the four-hour chart, the Bollinger Bands continue to diverge downward. On smaller timeframes, there is a consistent downward trend with minor pullbacks. The downward movement paused slightly after a longer lower shadow appeared. Despite briefly breaking below the previous support at 655, the extension did not show any substantial follow-through. The indicators in the attached chart, MACD and KDJ, both show signs of turning upward. Today’s focus is on the 650 level: if broken, observe and wait; if not, consider going long.

Morning suggestion: Bitcoin retrace to around 655, then buy in batches near 650, targeting the 670-680 range. If the upward move fails to continue, consider shorting again.