Bitcoin ended March in the green, snapping a streak of red monthly candles. That sounds like progress. The data underneath that close tells a different story.

CryptoPatel, writing on X, pointed out that the green close does not flip the macro trend. The monthly structure still favors downside. One candle does not reverse the broader setup.

Fib Zone Sets Up the Trap

According to CryptoPatel on X, price could wick into the 0.618 to 0.786 Fibonacci retracement zone this month. That range sits between $71,580 and $73,501. He described it as a classic liquidity grab area, not confirmation of a trend reversal. His April outlook leans bearish.

That Fib zone matters because it is where traders who sold near the highs placed stop-losses and where late buyers anchored their entries. A sweep of that zone would clear both before any sustained move.

Columbus0x, also posting on X, had a different entry point into the same bearish thesis. The update shared on X tracked BTC’s behaviour around the 66K to 67K range after a brief dip to 65.5K following the New York open. Each revisit to that zone, he noted, weakens it. The heatmap data he shared shows more meaningful liquidity sitting below current price than above.

67K to 69K Is Not a Launch Pad

The 67K to 69K band keeps absorbing upside moves. Columbus0x noted every push into that zone gets absorbed fast, keeping upside limited. That absorption pattern has repeated enough times that it now reads as distribution, not accumulation.

The mid to low 60s remains what he called the magnet. If the current support level gives way, he expects price to move there quickly. That would put Bitcoin’s April price outlook in range of a 7% to 10% drawdown from current levels.

The March close was green, technically. But CryptoPatel’s read is that monthly structure still tilts down. A green candle on the monthly chart after a losing streak attracts retail attention. The liquidity setup, per both sources, suggests that attention may be the point.

Columbus0x put it plainly on X: the imbalance between liquidity above and below has not changed. That gap is what drives the next move, not the direction of last month’s candle.

Bitcoin price sat near the 66K to 67K consolidation zone at the time of these updates. The Fibonacci range of $71,580 to $73,501 remains the area to watch if price pushes higher before April resolves.