Before the break and drop on February 24, BTB had been strongly consolidating in the range of 89256---109588 for nearly 100 days. Correspondingly, after the break and drop on February 24, BTC should also have a weak consolidation below the break point of 93,000 for about 3 months/100 days. In fact, since BTB broke below 93,000 on February 24, it has spent less than 24 hours above 93,000. The highest point in the past month was 88765 on March 24 (short to medium-term resistance). It has only been a month and a half since the break and drop on February 24, and the consolidation time is insufficient. Based on this, the time for BTB to break above 88765 and return above 90,000 is likely to be sometime between late May and early June.

The technical trend of BTB is very regular and symmetrical. Before the break and drop on February 24, the maximum fluctuation space during the strong consolidation was 20,000 dollars, with a fluctuation range of 89256---109588. Since the break and drop on February 24, the maximum fluctuation space for BTC has also been nearly 20,000 dollars, with a trading range of 95000---the lowest point of 74508 yesterday. The lowest point yesterday can basically be confirmed as the mid-term bottom for BTB since the drop on January 20.

81200 divides the range of 88765---84500 into upper and lower sections. In the early hours of Monday, before BTC fell below 81200, the market consolidated and traded in the range of 81200---88765, with the lower range being 81200---74500. The fluctuation above 81200 is approximately 7500 dollars, while the fluctuation range below 81200 is 6700 dollars. The fluctuation between the upper and lower ranges is not significantly different, which indirectly indicates that after BTB broke the short-term key support level of 81200 on Monday, the downward space has basically been exhausted by reaching the lowest point of 74500 yesterday. Originally, 81200 was a key support level, but its loss has also become short-term resistance. Therefore, the rebound of BTC last night was also hindered by 81200. The trading range in recent days has been 81200---74500. The market needs to regain above 81000 to have a chance to challenge around 89,000.

This year, there has already been a relatively high cost-performance opportunity to enter long positions. BTC is consolidating in the range of 81200--74500, and one should choose the right time to enter, betting that the Federal Reserve will continue to cut interest rates and inject liquidity, pushing BTC above 100,000 or to new highs.

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