Bitcoin (BTC) has commenced March on a high note, establishing its price above the $60,000 support zone and achieving the highest monthly close since October 2021, moments before it reached an all-time high.
Indeed, the current positive momentum is supported by several bullish elements, including the upcoming halving and the ongoing performance of exchange-traded funds (ETF). In line with this, a significant market consensus suggests that the rally will likely continue its upward trend.
Commenting on what to expect from Bitcoin, crypto trading expert Trading Shot, in a TradingView post on March 2, highlighted that, based on technical indicators and historical patterns, Bitcoin is poised to reach a new all-time high before the next halving.
With Bitcoin having broken the 0.382 Fibonacci level on the weekly chart in early February for the first time since June 6, 2022, the expert observed that the development is crucial in cyclical terms, drawing parallels with previous cycl
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