Bitcoin for March 2023
*Technichal Analysis*
March point of view
As analyzed in February, Bitcoin is currently facing large resistance bands of monthly, weekly and daily resistance.
From the perspective of continuing the rebound rally,
Bitcoin is open until the resistance zone A (28000 USDT ~ 36000 USDT).
If it continues to rebound, it seems that it will meet a large resistance in section A.
For now, if Bitcoin is to continue its further rally,
It does not cross the B section, the (20500-21000 USDT) line, and
It looks like it will continue to break through the resistance zone and climb up.
in terms of decline
In the current high of 24000-25000 USDT
Finishing the rally and ending the further down rally that started at $72,000.
If you continue, it will be open up to section C.
If the line breaks, it is in a downtrend
A good buying zone is 18200 in D section / 15700 in E section.
If the lines are broken down
C section is open.
C line (-10600-11900 USDT)
It looks like it will be a good buy zone.
There is only a difference in time, but when Bitcoin is analyzed in a large frame of one year, Zone A is a section that must go someday.
if you wanna expect to zone A, only way you have to a good positon.
*Fundamental Analysis*
As the downward trend in inflation in January collapsed, the US stock market began to correct in February.
High-risk assets like Bitcoin made the final rally.
With inflation rising again in March, the Fed's tightening is likely to continue.
The market is anticipating and is likely to make a correction.
This can be aimed at a technical rebound like last time, and it seems necessary to wait for zone B.
But what we have to worry about more than inflation is the war in Ukraine, which could lead to an additional sell-off from more economic sanctions if China supports Russia.
If so, have to wait that the D and E zone.
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