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Saturday, March 28 Morning Thoughts
Yesterday, after a sharp decline, Bitcoin continued to fluctuate at low levels.
Following adjustments in the early morning hours, Bitcoin has now stabilized above 660.
Yesterday, the widespread bearish sentiment and short positions were met with great satisfaction and celebration.
Currently, the daily chart shows a large bearish candle, with all indicators pointing downward.
On the four-hour chart, there is a waterfall decline, clearly indicating a bearish trend.
The hourly chart also clearly shows a bearish trend.
Although the overall short-term trend is weak,
Today is the weekend, and the probability of a one-sided move is very low.
Therefore, the focus should be on short-term trading.
Currently, at low levels, expect a rebound within the day.
For Bitcoin, look for any long positions below 658.
Target around the 670 region; if it moves up, do not extend the position and consider reversing to short.