BTC $64,707.11 +0.44%
ETH $1,915.77 -0.16%
BNB $595.00 +4.02%
XRP $1.08 +0.04%
SOL $74.50 +0.50%
TRX $0.3288 +1.10%
DOGE $0.0706 -0.34%
ADA $0.1721 +2.61%
BCH $219.45 +3.94%
LINK $8.48 +1.09%
HYPE $54.96 +0.21%
AAVE $99.24 -0.24%
SUI $0.6994 +0.61%
XLM $0.1721 -0.28%
ZEC $472.17 +0.99%
BTC $64,707.11 +0.44%
ETH $1,915.77 -0.16%
BNB $595.00 +4.02%
XRP $1.08 +0.04%
SOL $74.50 +0.50%
TRX $0.3288 +1.10%
DOGE $0.0706 -0.34%
ADA $0.1721 +2.61%
BCH $219.45 +3.94%
LINK $8.48 +1.09%
HYPE $54.96 +0.21%
AAVE $99.24 -0.24%
SUI $0.6994 +0.61%
XLM $0.1721 -0.28%
ZEC $472.17 +0.99%

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
Collection

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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