3/19 Midday Bitcoin Analysis

Bitcoin's pullback this wave has broken below the 72,839 support level, with the lowest test reaching around 70,273, but this round of rebound has not yet concluded.
As long as there is no effective break below 70,273 (the starting point of the rally), the hourly-level bullish trend remains intact, just temporarily weakening; once 70,273 breaks, it will revert to oscillating in the lower range.
Currently 70,273 has completed the first support test, and will likely undergo a second retest of this level subsequently.
• If the second bottom does not create a new low and forms a double bottom structure, there is potential for another rebound;
• If it breaks below the new low on the second attempt, it will continue weakening downward.

Trading Suggestions:
• Volume-backed breakout above 71,314: Chase long on the right side, target 72,839–73,531

• Volume-backed break below 70,458 with failed retracement back: Chase short on the right side

• If unable to consistently hold above 71,314, oscillate between 70,273–71,314 in the short term.

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