What a ride BTC price has taken lately. Bulls are targeting for $48K. Here's why.
shows that the price of BTC has oscillated between $43,350 and $45,400 on March 2 as the world awaits some form of resolution to the current conflicts.Here’s what several analysts are saying about the recent price action for BTC and where it could be headed in the weeks ahead.
The rapid move upwards “stalled at $44,000, which coincided with the 100-day moving average,” according to Lifchitz, which is “also near the top of the $33,000-$45,000 range in which Bitcoin has been trading in for weeks. As for what comes next for BTC in the short term, Lifchitz suggested that “BTC may go down a bit toward the middle of its $33,000–$45,000 range” and noted that “it’s difficult to see BTC breaking above $45,000 and then $51,000 without any significant catalyst.”“There's the FOMC meeting on March 16th where the FED decides if it hikes rates or not.
the following chart showing that the current range has been a significant support and resistance zone since last May.“Watching $40,000 to see if we get a pullback. If this is like September then we'll see vertical accumulation and Bitcoin is not going to dip much at all for a bit. I'm guessing I won't get this in the short term.”
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