Bitcoin Technical Analysis March 31: Bearish Breakdown Triggers – $66K or $60K Target?
Source: TradingView
The monthly candle close is at the end of the day on Tuesday. As things stand, the doji candle that is currently displaying could even become a gravestone doji candle by the end of today. This is a candle that is normally found at the top of a rally, but in this instance it could serve as a continuation candle.
The $69,000 level is the very top of the 2021 bull market, so this is a very important level, especially given that it also took an 8-month long bull flag to break above it in 2024.
It looks as though the $BTC price may be about to close below this level, with a lengthy topping wick above. The price could also close below $67,700, which is another important level.
If we take it that the price does fall down from here, the main support levels in this monthly time frame are at $59,000, $48,000, and $38,000. To which of these could the price fall?
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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