March Recovery Unlikely for Bitcoin

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Bitcoin bulls were battling to flip three resistance levels back into support by the end of the week, but history shows they may need to wait another month.

Bitcoin is battling three key resistance levels at once, and the end of the bear market may depend on breaking them in March.

Bitcoin still faces three resistance levels on the weekly chart after its midweek gains.

Bitcoin is down 14% in February, the fifth consecutive red month for BTC price.

Bitcoin bulls attempt three support flips

An analysis of the current market structure points to a cluster of barriers that have merged into a resistance area.

The 200-week exponential moving average (EMA) at $68,330, the old 2021 all-time high at $69,000, and the psychological level at $70,000 are capping the price rebound at the time of writing.


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