Bitcoin (BTC) saw brisk upwards action during the Wall Street trading session on March 18, conforming to predictions that higher levels would see a retest.
Bets placed on $46,000
Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it advanced $1,650 from daily lows to nearly matching the $41,700 high from March 16.
The move buoyed traders, who began to reinforce their short-term view of levels near the top of Bitcoin’s 2022 trading range being challenged.
For popular trader Pentoshi, however, such a result would not mean that BTC/USD had broken its downtrend definitively.
“Macro headwinds still too strong but midterm, I think we rally bc seller exhaustion before any shot at new lows or prev lows. So lean towards up then down imo late Q2,” he told Twitter followers on the day.
Cold feet over macro conditions, as Cointelegraph reported, became a major issue this week, with multiple predictions of a major drawdown across major assets including BTC coming this year.
Analyst Matthew Hyland meanwhile noted that in…
