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This analysis of BTC price action is based on a moving average and a consolidation pattern on the 1-week timeframe.
In February, Levels 1 to 4 were shared a day before BTC reached the $60K range (you may refer to the earlier post).
The price attempted to recover, but Level-2 rejected the move this month. Last week’s red candle has hinted at a new consolidation pattern, which appears constructive.
Refer to the yellow path for its projected shape.
Note: This pattern remains valid only if the price stays above Level-4.
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