šAn influential Bitcoin investor has shifted into a phase of "full accumulation," withdrawing significant amounts of Bitcoin from exchanges.
š“Exclusive Bitcoin Weekly Chart Update:
Bitcoin's price is eagerly awaiting a breakout above $69,000 on the weekly chart. This past week, Bitcoin concluded at $68,352.
We've emphasized that if Bitcoin manages to close the weekly candle above $69,000, we could witness a surge towards $100,000-$150,000 within 6-7 weeks post-breakout, mirroring previous cycles.
š“On the weekly timeframe, Bitcoin formed a Doji candle, indicating uncertainty in its price movement. It seems Bitcoin might consolidate between $52,000 and $70,000 for a few weeks, establishing a supportive range for potential rebounds. This scenario bodes well for Ethereum and alternative cryptocurrencies, allowing them room to thrive, possibly sparking a significant Altseason.
Our primary hurdle for sustaining bullish momentum lies in achieving a weekly close above $69,000.
Key Events to Watch:
- FOMC Meeting: March 20
- Halving: Expected around April 20
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