March 9th Bitcoin Public Outlook

After reaching 71,675, the price formed a false breakout, accompanied by a bearish engulfing pattern, which is a typical liquidity washout move. Currently, the price is trading within a converging triangle zone (upper boundary at 71,670, lower boundary at 70,070). The range remains intact until a breakout occurs, maintaining a sideways consolidation pattern.

Upside: A volume-supported breakout above 71,670 confirms a rebound signal. If the hourly price stabilizes above 71,500, the next targets are 72,600-73,600.

Downside: A break below the triangle support at 68,990 triggers a deep correction, with targets at 68,000-66,770. On the 4-hour chart, a break below 70,360 targets 69,150-67,880.

Short-term trading suggestions:

- A breakout above 70,830 can be considered for long entries on the right side.
- A break below 70,340 with a failed rebound can be considered for short entries on the right side.

$BTC March 9th Bitcoin Public Outlook

After reaching 71,675, the price formed a false breakout, accompanied by a bearish engulfing pattern, which is a typical liquidity washout move. Currently, the price is trading within a converging triangle zone (upper boundary at 71,670, lower boundary at 70,070). The range remains intact until a breakout occurs, maintaining a sideways consolidation pattern.

Upside: A volume-supported breakout above 71,670 confirms a rebound signal. If the hourly price stabilizes above 71,500, the next targets are 72,600-73,600.

Downside: A break below the triangle support at 68,990 triggers a deep correction, with targets at 68,000-66,770. On the 4-hour chart, a break below 70,360 targets 69,150-67,880.

Short-term trading suggestions:

- A breakout above 70,830 can be considered for long entries on the right side.
- A break below 70,340 with a failed rebound can be considered for short entries on the right side.

$BTC