March 12th Midday Bitcoin Public Outlook

After Bitcoin broke below the price channel, it attempted to recover but failed to rebound, resulting in a false upward breakout + rapid decline,
The spike around 68915 is meant to harvest the liquidity of the bulls above.

The closing line is above the sky.

Currently, the lower boundary of the price channel at 68500 has become resistance.
Subsequent rebounds failed to re-enter the channel, indicating that the bulls are weakening each time.
If it continues to stay below the channel, it is likely to form a triple top pattern,
and lower lows have already appeared below, with rebounds unable to reach new highs, most likely leading to a second retest.

The current outlook is likely to be a range-bound oscillation between 68400 and 66580,
with volume shrinking during the rise, indicating limited upward momentum.

Trading Suggestions:

• Break above 67730 with volume → Go long on the right side

• Break below 67130 with volume, then rebound but fail to recover → Go short on the right side
Strict stop-loss required.

• Hourly level: Hold above 67790 → Watch 68500–69900
If it cannot break above 67790, then all bets are off.

• 4-hour level: Break below 67000 → Watch 65920–65220#Gate广场发帖领五万美金红包
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