Trading in the cryptocurrency market is a long-term plan and should not be rushed. Therefore, it's not scary even if there are losses in the short term. As long as the subsequent direction is chosen correctly, what is lost will eventually return. However, it is important to grasp the timing of making trades and the current market trends to improve the winning rate. At the same time, investing is also a process of growth. Mr. Coin suggests that cryptocurrency friends learn while trading, and promptly summarize gains and losses to deepen their understanding of risks and proper mindset planning. Only then can risks be reasonably avoided, and one can become a qualified investor. 

Mr. Coin's Analysis Reference for Bitcoin (BTC) on March 21

Recently, the 4-hour chart has shown a double top structure, with two peaks around 70685 and 71367. Currently, the price has fallen below the neck line at the key level of 69860. From a technical perspective, a break below the double top indicates an increase in short-term downward risk. The daily chart has recorded three consecutive bearish days, and the highs have continuously declined from 73909 to 71246 and then to 69840, forming a typical bearish descending pattern, indicating that the market's focus is moving downwards.

  In terms of indicators, the MACD lines on the 4-hour chart continue to diverge below the zero line, with the bearish momentum bar expanding to -263. The downward momentum has not weakened but instead has strengthened. The moving averages are also weaker, with the price falling below all key EMA moving averages, including the 7, 30, and 120-day averages. In the short term, the 70500 level is near the EMA7 resistance level, and a rebound to this area will face significant pressure. In terms of volume, the 4-hour bar at 8 PM on March 20 saw a sharp drop in volume, with 4716 units traded, followed by a rebound where the volume shrank from 3080 to 303, which is a typical pattern of increasing volume during a drop and low volume during a rebound, indicating that bottom-fishing funds are not active. The daily level is more pronounced, with the drop accompanied by a consistent increase in trading volume from 16244 to 22365 and then to 23393, showing that selling pressure is gradually being released, with no signs of buying support entering.

 Overall, with the breaking of the double top neck line, the daily descending pattern, combined with the bearish arrangement of moving averages and the continuous increase in volume during declines, the entire technical perspective is bearish. Unless the price quickly recovers above the 70000 neck line, the likelihood of continued downward testing of support in the short term is high. See you tomorrow. Follow Mr. Coin for real-time analysis of the market.

Short-term Reference for Bitcoin on March 21:

In the 70500-71500 range, defend at 74500 for a supplement, stop loss at 500 points, target below 70000

In the 68300-69300 range, target above 70000, stop loss at 500

There may be delays in message delivery. Strategy suggestions are for reference only. The market changes rapidly, and regardless of how accurate your market predictions are, always have a stop profit and stop loss strategy; ensure security in your profits.

For more real-time strategies and online technical learning, you can follow the official account (Mr. Coin Talks About Coins) for access. You can learn about strategies for exiting positions online. I have studied the market for many years and focus on the major trends in cryptocurrency, having studied in depth and provided analytical guidance for BTC, ETH, DOT, LTC, FIL, EOS, BCH, ETC, etc. For those who are not familiar with trading, you are welcome to study and learn together.

 For more daily real-time strategy and online technical learning, follow the mentor's official account (Mr. Coin Talks About Coins) to obtain methods for adding: The first ten people each day can receive free strategy for exiting positions.

This content is exclusively shared by Mr. Coin in the cryptocurrency market, representing only Mr. Coin's unique opinion. There may be delays in sending articles, and risks are to be borne by the individual. When trading, reasonably control your positions and avoid heavy or full-margin operations. Mr. Coin wishes all fans to achieve financial freedom, move forward together, and keep striving. In the depths of time, lightly grasp a sense of understanding. In investing, one must learn to be optimistic. Do not let your future self dislike your present self. We live authentically, but not every data revelation needs to be taken too seriously. Let the past be the past, and may the future come quickly! Take good care of yourself, prepare well, and be ready to take action at any time. Keep going!

—— This article was written by Mr. Coin in the cryptocurrency market. Refusing to plagiarize, respecting originality!

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