oday, we are continuing our thoughts about the possible Bitcoin price movement.
Based on our previous forecast BTCUSDT , we see that the market participants have chosen the positive-negative scenario.
Reaching the upper target at $56500, according to this fractal , is due in mid-late March 2022.
Recall that by mid-Spring 22. The U.S. Federal Reserve announced an interest rate hike.
How it can reflect on crypto we can only guess.
Positive Bitcoin forecast and the $40,000 mark
Today, we copied the growth fractal of BTCUSD price from March 2020 and adjusted it to the current price movement. The psychology of the market participants’ behavior then and now is very clearly repeated, though the situations and the stages of the market are different.
So, according to this fractal , the buyers in the coming days should not allow the BTC price to fix lower than $40,000.
If this condition will be carried out, according to this fractal, the possible smooth continuation of growth till the middle of May 2022, the target remains unchanged – $56500.
And what will the Altcoins do in the meantime?
We would like to see at least a minimal Alt season, although very few alts have now grown back even to the level where the fall began on January 13-20 this year.
However, everything can change after minimal correction on the cryptocurrency market, and can start a good growth in a new wave of upward movement, and you should be ready for it and know where to buy long safely.