Market View
Breakthrough 74, 78-81 Expected by End of March
Bitcoin briefly broke through 74 this morning and is currently still around 74.
Previously, we mentioned watching Monday's range; a break above 74 might lead to the 78-81 range.
Currently, I believe it will break through 74 this week, and then break through to the 78-81 range by the end of March.
On smaller timeframes, we can see that the pullbacks in $BTC have been very shallow, avoiding a deep correction; the order book is also constantly approaching upwards from below.
Therefore, a formal breakout of 74 should only be a matter of time.
After the breakout, the next target is 78-81. There is a CME gap at 81, and filling it is reasonable.
We don't see any higher levels above 81 for now; filling the CME gap might mark the end of this phase of the rebound.
After the rebound ends, April should see a major decline.
The chart shows a pattern that replicates the rebound pattern of March 2022, for reference.
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