📊🚀 Bitcoin at $73,500 Support: Can It Hold Before the March FOMC? 🚀📊
Bitcoin $BTC briefly broke out above the upper boundary of the rising wedge pattern, reached $75,000, but was quickly rejected and fell back inside the wedge/channel.
The current price action is a repeat of late February, when a similar breakout attempt failed and led to a sharp drop down to $64,000.
On any pullback, $72,000 is the critical level: holding above it suggests a healthy retest, while a decisive break below it signals a bearish breakdown targeting $64,000 first, with $60,000 as the next (and likely final) major support.
For the bullish case: a daily close above the upper trendline of the channel, followed by sustained momentum, would open the path toward $80,000 → $84,000 → $90,000 in that order.
The market is currently repeating the same breakout-fakeout pattern for the third time; a decisive resolution (up or down) must eventually occur, but it has not happened yet.
📍Disclaimer: This is not a financial recommendation, cryptocurrency investments are speculative, and past performance does not guarantee future results. Always conduct your own research and consider your risk tolerance.
Thank you for reading.
