- TradingShot highlights Bitcoin's rebound from the Ichimoku Cloud and the formation of a higher low, indicating a potential upward trend.
- Continued uptrend could lead to a breakout towards the 3.0 Fibonacci extension level, potentially propelling Bitcoin to $90,000 by March's end.
- Similarities in the current market pattern to December 2023's price action, which initiated Bitcoin's surge to $73,000, are observed.
- Nonetheless, there's a significant risk of a decline to as low as $50,000.

BTC grabbed headlines last week as it surged to a remarkable all-time high of approximately $73,000. However, the cryptocurrency has once again dipped below the $70,000 threshold amidst calls for a sell-off. Despite this turbulence, many analysts remain optimistic about BTC's potential to achieve another higher high before the impending halving event.
Among these analysts is TradingShot, who has outlined compelling reasons why BTC could soar to $90,000 by the end of March. The sudden retracement of Bitcoin from its peak to around $65,000 left the crypto community stunned. Discussions ensued regarding a historical "pre-halving correction," a phenomenon where BTC experiences a significant decline of approximately 40% before halving events.
Amidst the uncertainty, TradingShot, a renowned crypto trader, has provided insights based on technical indicators. In a recent post on TradingView dated March 15th, the analyst highlighted BTC's decline below $65,000, noting its descent below the four-hour MA50 and into the green Ichimoku Cloud.
The Ichimoku Cloud, a potent indicator, is instrumental in predicting future price movements and identifying crucial support and resistance levels. Despite the recent downturn, TradingShot observed that Bitcoin has formed its second higher bottom within the pattern, indicating a potential continuation of the bullish trend.
TradingShot anticipates that as long as Bitcoin's candles close within the channel-up pattern, the positive trend will persist. This could potentially lead to a significant breakout towards the 3.0 Fibonacci extension level at an impressive $90,000. Drawing parallels between the current market pattern and that of December 2023, TradingShot further reinforces the bullish outlook, citing similarities in price action, moving averages, and RSI sequences.
However, TradingShot also offers a word of caution. Should Bitcoin breach below the channel-up pattern, a decline to test the $60,000 mark, approximately around the four-hour MA200, could be imminent. Investors are advised to closely monitor key price levels, with the $64,750–$66,700 range considered a significant support zone.
Furthermore, recent observations suggest the presence of a fresh $30 billion liquidity pool around the $50,000 mark, potentially signaling strategic maneuvers by whales. It's essential for investors to exercise caution and conduct thorough research due to the high volatility of cryptocurrencies.
Disclaimer: While Voice of Crypto endeavors to provide accurate and timely information, it disclaims responsibility for any omissions or inaccuracies. Cryptocurrencies are inherently volatile assets, and individuals should conduct their own research and make informed financial decisions.

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