BTC Technical Analysis: The Final Growth Target Is $56,000-$57,000

The trading week on 28 February began with an active phase of Bitcoin price growth. If over the weekend Bitcoin was moving rather sluggishly and hinted at the possibility of updating the local low from 24 February, then on 1 March the situation is completely different. In our previous article, we wrote that we expect the price to grow to $46,000. Buyers have one step left to implement this scenario. However, there will be a serious struggle near the $46,000 mark, which will determine the next medium-term movement of the BTC price. The fact is that now the BTC price is moving in the consolidation channel. This movement is more like a global consolidation during the reversal. The unsuccessful attempt of sellers to update the local low from 24 January on a weekly timeframe gave buyers hope for growth with the final target of $56,000-$57,000. https://www.tradingview.com/x/dkNWwhiI/ At the moment, the main question is whether buyers will be able to make this growth without the BTC correction from the range of $46,000. In case of trading volumes in this range and decrease in price volatility – we will expect a local correction of the BTC price to $40,800-$41,400. If the trend of buyers is really strong, then below this range the price should not fall. In the event of an aggressive fall in the BTC price without volumes, you should expect a lower fall of the BTC price to $36,200. As the weekly candles have shown, there is a lot of int...