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ZEC $355.50 +8.99%
BTC $60,822.49 +1.13%
ETH $1,561.48 -0.70%
BNB $576.08 +0.09%
XRP $1.09 +0.43%
SOL $62.17 -2.82%
TRX $0.3217 +0.73%
DOGE $0.0817 +0.78%
ADA $0.1593 +2.17%
BCH $217.41 +1.82%
LINK $7.39 +1.88%
HYPE $58.41 +1.23%
AAVE $60.53 -2.01%
SUI $0.7177 +4.18%
XLM $0.2113 +13.38%
ZEC $355.50 +8.99%

Analysis: The current trend of Bitcoin is similar to the previous plunge to 600,000 dollars, with 65,800 dollars being the key support level

2026-03-20 15:34:10
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According to CoinDesk, the current trend of Bitcoin is highly similar to the price structure that ultimately triggered a drop to $60,000 between November 2025 and January 2026. From a technical perspective, since hitting the bottom in early February, Bitcoin has formed a narrow, slightly upward-sloping channel between two trend lines, mirroring the previous sideways movement after the drop from $100,000.

At that time, the market also exhibited a slow, oscillating upward crawl, ultimately leading to a false breakout where the price plummeted straight from about $90,000 to nearly $60,000. Technical analysis refers to such patterns as "counter-trend rebounds," which are small recoveries that occur within a downtrend. The current rebound lacks explosive momentum, which is a typical signal of bull exhaustion; the market may just be catching its breath, waiting for bears to regain strength.

$65,800 is a key support level. If Bitcoin falls below the current lower boundary of the channel at around $65,800, it would mean that bears have regained control; if it breaks upward through the channel, the downtrend may lose momentum, and bulls could be poised for a strong counterattack. Bitcoin is currently at a critical decision point, and the direction remains unclear.

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