The BTC pattern is showing strong similarities to the 2020 Momentum seen after the Covid price crash, with a rising wedge forming.. This pattern remains valid as long as the price remains in the $21,700 range.
1D BTC/USDT Chart
The above is part of the analysis of the professional crypto asset trader and founder of GSICLisa N. Edwards, which highlights the consolidation of prices that we are observing in the month of March for the main asset of the ecosystem.
According to Lisa, Looking at bitcoin’s 4-year price cycle, the highlighted price regions show where the pattern is likely to repeat, with a possible rally to $35,000 in July.
1D BTC/USDT Chart
For the founder of Getting Started in Crypto (GSIC)it is important for psychological reasons that the 20k region holds as it is close to the $20,500 monthly support while $23,385 is the monthly resistance.
For Lisa, This region will be the trading zone during the month of March to consolidate before the bitcoin price changes its upward trend.
To conclude, Lisa, who is also in the production of a film financed solely by NFTs, points out that 2023 will have its ups and downs for bitcoin as we approach the middle and final bear market cycle.
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