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ZEC $354.30 -1.68%
BTC $77,012.50 -1.66%
ETH $2,293.91 -3.26%
BNB $623.96 -1.81%
XRP $1.39 -2.69%
SOL $84.24 -2.94%
TRX $0.3258 +0.67%
DOGE $0.0980 -1.57%
ADA $0.2461 -2.65%
BCH $448.71 -1.31%
LINK $9.22 -2.83%
HYPE $41.66 -0.78%
AAVE $95.96 -1.01%
SUI $0.9243 -2.45%
XLM $0.1646 -3.90%
ZEC $354.30 -1.68%

Analysis: The current trend of Bitcoin is similar to the previous plunge to 600,000 dollars, with 65,800 dollars being the key support level

2026-03-20 15:34:10
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According to CoinDesk, the current trend of Bitcoin is highly similar to the price structure that ultimately triggered a drop to $60,000 between November 2025 and January 2026. From a technical perspective, since hitting the bottom in early February, Bitcoin has formed a narrow, slightly upward-sloping channel between two trend lines, mirroring the previous sideways movement after the drop from $100,000.

At that time, the market also exhibited a slow, oscillating upward crawl, ultimately leading to a false breakout where the price plummeted straight from about $90,000 to nearly $60,000. Technical analysis refers to such patterns as "counter-trend rebounds," which are small recoveries that occur within a downtrend. The current rebound lacks explosive momentum, which is a typical signal of bull exhaustion; the market may just be catching its breath, waiting for bears to regain strength.

$65,800 is a key support level. If Bitcoin falls below the current lower boundary of the channel at around $65,800, it would mean that bears have regained control; if it breaks upward through the channel, the downtrend may lose momentum, and bulls could be poised for a strong counterattack. Bitcoin is currently at a critical decision point, and the direction remains unclear.

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