Monday Night Trading Strategy for March 30

A few days ago, I already mentioned that a big plunge was imminent; there were early signs, and the upward channel had already been broken. All those rebounds are just the last gasp of a dying horse. Don’t get excited and call a bull market after a small rise, or panic after a small drop—the truth has already been laid out in the market.

Looking at the 4-hour chart makes it even clearer: the previous high at 75,975 has been steadily declining, and the support at 68,000 has not held. Now it’s directly fallen to around 64,940. The 4-hour moving averages are already in a bearish alignment, and once the EMA60 and EMA120 form a death cross, it’s really hard to reverse the trend.

Absolutely do not blindly buy around 68,000; this is just a correction during a downtrend, not the bottom. To safely go long, wait for a signal: a firm rebound back above 71,000. Otherwise, all these rebounds are just traps, and chasing them is pointless.

Focus closely on the 60,000–65,000 range; this is a critical support zone. If it fails to hold, it will likely trigger a downward spiral. There’s no need to debate whether it will happen—being prepared in advance is the right approach.

The next trading approach is simple: buy in stages between 65,000 and 63,000, with the closer to 63,000 the safer. There will definitely be a technical rebound around 63,000, but don’t expect a full reversal; the upside is limited, so take profits when the market looks good. Those interested in shorting can look at 68,500–69,500.

The US stock market is closed tonight. After Friday’s sharp decline, the market’s risk appetite is at an all-time low, putting heavy pressure on the crypto space. Oil prices are soaring past $100, inflation expectations are heating up again, and the Fed is likely to delay interest rate cuts. Liquidity tightening is not friendly to Bitcoin at all.

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