The leading cryptocurrency Bitcoin (BTC) had a tough 2022. After massive declines in the previous year, BTC has been on the rise since the start of 2023, providing some relief to its investors.
Looking at the last 20 days, BTC seems to have accumulated around $28,650. While BTC has not been able to break through this resistance point, it is still hovering around critical levels.
According to a popular crypto analyst, Stockmoney Lizards, the bear market for Bitcoin is now over. The successful analyst has adapted the accumulation scheme to the BTC chart and is expecting even more significant price increases in BTC in the coming months.
Has Bitcoin (BTC) Put Sharp Declines Behind It?
At present, we can say that the bears no longer dominate the cryptocurrency sector. However, sharp pullbacks can still occur as corrections.
If Stockmoney Lizards' latest Bitcoin chart comes to fruition, BTC is likely to rise to the $35,000-$40,000 range in the coming months.
While altcoins are still accumulating at their lowest levels, BTC's rise to the $35,000-$40,000 range would help the entire cryptocurrency market recover.
For those reading this article, it is recommended to use stop-loss orders to avoid significant losses in the cryptocurrency market.
Please note that this article is not investment advice. Everyone should make their own decisions based on their own risk tolerance and conduct their own research before making any investment decisions.
