• Bitcoin (BTC) price continues to trade within the same region around $22,300 flashing the possibility of testing the lower support at $20,000.
• BTC is displaying less volatility while the technicals presently are somewhat neutral but go bearish any moment.
• March is expected to be extremely volatile as multiple macroeconomic indicators like the CPI, Fed rate, etc. may intensify the possibility of a potential growth in the coming years that may mark new highs soon.
Bitcoin has been trading in constant wave patterns since before and if this pattern continues it may slide to the bottom where it can test its lower support of $20,000. After which a catapult action may raise its price to a level close to its target of around $50,000 in a short while from now. The BTC price reached its previous highs again and faced rejection but it still flashes possibilities of going high in coming days due to ‚Inverted head & shoulders‘ pattern on its chart.
The medium target for Bitcoin (BTC) Price is estimated to be around $40,000-$42,000 which could happen sooner or later. Moreover more than 140K BTC could enter markets which makes March very volatile with multiple macroeconomic indicators like CPI, Fed rate etc., influencing crypto space and intensifying possibilities of potential growth in near future marking new highs soon.
Despite BTC price continuing to consolidate it flashes possibilities of going high despite facing rejections when reaching previous highs. The global reversal of BTC price chart can be assumed due to Inverted Head & Shoulders Pattern indicating sideways trend however with possibilities of leaping long reaching higher targets in coming months ahead.
BTC Price is also believed to witness extreme pressure that may prevail for entire crypto space if small group traders wish make profits from market making situation more uncertain with time passing by .