3-31 Bitcoin Analysis:

Since last Friday, it has been continuously falling and breaking through several support levels. From this perspective, it is evident that the bulls have shown no intention of defending the price. Currently, a bullish liquidity level is around 811, which was almost touched this morning. According to Fibonacci analysis, it is also nearly touching the 0.618 level.

Generally speaking, 0.618 is a potential bullish position. After that, we need to pay attention to whether there will be a short-term rebound after touching this level. If there is no rebound even at the Fibonacci 0.618, then we can only look for buying opportunities near the support around 80,000.

From the current market perspective, around 837 is a technical resistance zone, which is also the CME gap for futures. If Bitcoin has a rebound, we need to pay attention to this level. Once the gap is filled and it faces resistance, that will be a signal to enter a short position.