Gate News reports that on March 20, Bitcoin’s current price trend shows similar characteristics to the downward trend expected by the end of 2024. Since early February, Bitcoin has been fluctuating within a narrow range, showing an upward tilt, a pattern similar to the trend from November last year to January this year. During that period, Bitcoin’s price sharply declined from about $90,000 to nearly $60,000.
Technical analysts point out that the current slow upward oscillation pattern exhibits specific technical features. If Bitcoin falls below the lower trendline of the current channel (around $65,800), it will signal a key technical indicator; conversely, if it breaks above the upper boundary of the channel, a different price movement may occur. Traders are closely watching this critical technical level.
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