BTC $77,598.89 -2.53%
ETH $2,436.26 -2.73%
BNB $689.19 -2.44%
XRP $1.38 -2.64%
SOL $103.42 -2.09%
TRX $0.3385 -0.76%
DOGE $0.0844 -2.85%
ADA $0.1999 -4.38%
BCH $242.96 -8.35%
LINK $11.31 -4.01%
HYPE $81.09 -2.27%
AAVE $121.76 -3.07%
SUI $0.7350 -3.40%
XLM $0.1771 -3.46%
ZEC $806.34 -0.20%
BTC $77,598.89 -2.53%
ETH $2,436.26 -2.73%
BNB $689.19 -2.44%
XRP $1.38 -2.64%
SOL $103.42 -2.09%
TRX $0.3385 -0.76%
DOGE $0.0844 -2.85%
ADA $0.1999 -4.38%
BCH $242.96 -8.35%
LINK $11.31 -4.01%
HYPE $81.09 -2.27%
AAVE $121.76 -3.07%
SUI $0.7350 -3.40%
XLM $0.1771 -3.46%
ZEC $806.34 -0.20%

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

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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