BTC $78,784.80 -1.33%
ETH $2,482.04 -1.18%
BNB $750.69 +0.32%
XRP $1.39 -1.52%
SOL $103.32 -2.13%
TRX $0.3363 -0.22%
DOGE $0.0900 -0.18%
ADA $0.2185 -0.96%
BCH $260.02 +0.52%
LINK $12.70 -4.17%
HYPE $84.32 -2.67%
AAVE $131.88 -2.86%
SUI $0.8226 +1.59%
XLM $0.1913 -0.74%
ZEC $1,136.09 -5.96%
BTC $78,784.80 -1.33%
ETH $2,482.04 -1.18%
BNB $750.69 +0.32%
XRP $1.39 -1.52%
SOL $103.32 -2.13%
TRX $0.3363 -0.22%
DOGE $0.0900 -0.18%
ADA $0.2185 -0.96%
BCH $260.02 +0.52%
LINK $12.70 -4.17%
HYPE $84.32 -2.67%
AAVE $131.88 -2.86%
SUI $0.8226 +1.59%
XLM $0.1913 -0.74%
ZEC $1,136.09 -5.96%

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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