If BTC continues its upward momentum, a significant bottom reversal for altcoins is likely, with TOTAL3 potentially targeting $1 trillion.
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On the 1-hour chart, a bullish breakout signal appeared at 4 PM on March 14, but the market largely consolidated sideways over the weekend, with declining trading volume reflecting low activity.
Improving rate-cut expectations, driven by key economic data, have boosted BTC’s short-term liquidity outlook, allowing it to decouple from equities and rebound quickly.
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If BTC drops below $66,000, the index would enter a bottoming phase, indicating a potential market low.
From a technical perspective, the $71,000-$73,000 range is a previous accumulation zone and also the liquidation range for most users.
Altcoins are unlikely to see strong rallies while BTC remains in a downtrend, but TOTAL3 could rise rapidly once BTC finds a bottom.
If BTC fails to break through the critical resistance zone between $93,000 and $97,000 by March 20, the longer it stays below this range, the higher the likelihood of an impulse wave to the downside.
As the crypto summit approaches, BTC may rally toward $93,000 in anticipation of further bullish developments. However, if the summit fails to meet market expectations, the $85,000-$87,000 range will serve as a strong support zone.
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