Bitcoin Bears Press On, Can the $60,000 Defense Line Be Held? | Invited Analysis
This market analysis provides a technical outlook for Bitcoin (BTC) and HYPE, focusing on the week of March 30 to April 5.
**Key Market Outlook:**
The dominant bearish trend for Bitcoin continues, with the price testing a critical support level near the lower boundary of an ascending channel originating from the February 6 low of ~$60,000. A break below this $65,000-$66,000 support zone could lead to a further decline towards the $60,000-$62,500 area. Resistance levels are identified at $69,500-$72,000 and $74,500-$76,000. The analysis maintains that the current movement is part of a larger corrective pattern (C-wave), with a potential C-3 decline if $60,000 is breached.
**Trading Strategies:**
* **BTC Medium-Term:** A 60% short position (1x leverage), initiated at ~$89,000, remains open with a ~24.76% profit. It will be closed if the price breaks above a key resistance band.
* **BTC Short-Term:** Two scenarios are proposed using 30% capital: (A) selling into rallies near resistance levels, or (B) shorting on a breakdown below the $65,000-$66,000 support. Strict stop-losses and a trailing profit protection method are emphasized.
* **HYPE Short-Term:** The token shows an independent bullish structure. The strategy is to "follow the trend and buy on dips," focusing on the $36-$38 support zone for long entries (30% capital, 1x leverage), while acknowledging its performance is still tied to Bitcoin's overall trend.
**Performance Recap (Previous Week):**
* A BTC short-term trade yielded a ~6.17% profit.
* A HYPE long-term trade yielded a ~5.25% profit.
* The medium-term BTC short position is significantly profitable.
*Disclaimer: This is a technical analysis log for informational purposes only and not investment advice. Market risk is high.*
Odaily星球日报03/30 06:15
