Market laws, twists and turns, cycles of change, inner cultivation, external practice, the road ahead is long and arduous. Doubt can filter risks, but it can also lead to missed opportunities. To seize opportunities, one must be brave enough to try. Different attitudes towards life yield different results. Without lofty ambitions, even with the help of influential figures, one will ultimately achieve little. Countless difficulties are not insurmountable; a successful investor's story is essentially a history of learning and growth. The journey may be tough, but don't forget the original intention, and you will eventually succeed.

2024.3.23 BTC————————

The daily chart of Bitcoin shows a bearish engulfing pattern, forming a bearish engulfing on the daily K-line. The resistance level at 64500 forms a weekly upward resistance position. The MACD indicator shows continued increasing volume of the bearish trend, and the fast and slow lines continue to move downward. KDJ remains in a low position and continues to move downward. Overall, the daily chart is dominated by the bearish trend.

On the four-hour chart, the price has experienced three bottoming runs within the Bollinger downtrend channel. The upper resistance at 64800 has not been tested in the short term. After the conversion of the MACD long and short energy, the bearish energy has shown increased volume. There is a resistance situation at 64500 in the four-hour chart. The one-hour Bollinger Band is running downward, and after the price consolidates, it will go up to around 64000. If it can continue to stabilize around 64000, there will be subsequent momentum to challenge the resistance level of the daily chart. In summary, Bitcoin is mainly oscillating within the weekend range, and it is recommended to observe more and wait for a clear trend before taking action.

This article is exclusively written by senior analyst Qin Chuan. He has been researching the investment fields of Bitcoin, Ethereum, contracts, spot trading, gold, forex, and stocks for many years. Currently, he mainly guides contract operations and has solid theoretical knowledge and practical experience. He excels in combining technical and fundamental analysis, emphasizes capital management and risk control, and has a steady and decisive operating style. He is widely recognized by investment friends for his amiable and responsible character and decisive operations. For more real-time investment strategies, trading techniques, operational skills, and candlestick knowledge, follow the public account: Zhao Qin Chuan.

Disclaimer: The above analysis represents the author's personal views and does not constitute specific operational advice. Any operations based on this are at your own risk. Investment carries risks, so be cautious when entering the market.

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