Bitcoin Is Showing A Major Deviation From 2022, Analyst Says This Is A Different Foundation
A crypto analyst, DorkChicken, highlights a significant deviation in Bitcoin's current market structure compared to the 2022 cycle. The analysis indicates the present bull market is developing on a stronger foundation, with price forming multiple consolidation zones that act as robust support levels. This contrasts sharply with the 2022 crash, which occurred after BTC fell below $30,000 into an area with little historical support, leading to a deep selloff. The current structure suggests future corrections may be less severe.
Furthermore, analyst 'Investor Jordan' asserts that bearish pressure is in its final stages following Bitcoin's recovery above $70,000 and a breakout from a key bull flag pattern. This breakout opens a path toward two short-term targets: filling the CME gap between $81,500 and $83,000, and a final push to reclaim the $84,000 level.
bitcoinist03/18 06:17