Cryptocurrency investors world-wide were eager to know whether Bitcoin (BTC) would dip back into the $24K region. However, crypto analyst Tedtalksmacro was quick to refute the rumors as he suggested that Bitcoin was making a higher-highs since November 2021 and higher-lows since January 2023.

On March 18, the BTC market opened trading at $28.02K and in the following hours it witnessed a decline, dropping below the opening market price. For the succeeding days, Bitcoin was found consolidating in a range of $27.10K and $28K until the fourth day when it began sinking towards $26.62K.

The good news was seen on the fifth day when Bitcoin made a comeback and started generating higher-highs and higher-lows. During this period, it reached its peak at $29.13K. Analyzing the pattern, it has been suggested that BTC is exhibiting a trajectory similar to that of late 2020. If this stands true, then Bitcoin could reach Resistance 2 at approximately $57.6K or Resistance 1 and consolidate between $37K and $44K.

However, the bears may have their say as they could also make BTC fall back to Support 1 at $16K or in the worst case scenario at Support 2 which is around $8.25K. In any case, it will be some time before investors find out which path BTC is going to take.

Whether Bitcoin abides by Tedtalksmacro's precision or not is yet to be determined in the market. Crypto investors around the globe will have to wait and see what Bitcoin has in store. Regardless, there is a considerable potential of upside waiting to be unlocked if BTC sustains its newly acquired trend of higher-highs and higher-lows.



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