BTCUSDT Daily Mar 17 2022 scaled 9vywnq

Two Probable Scenarios for Bitcoin After Reclaiming $40K (BTC Price Analysis)

Bitcoin is still consolidating in the $36K-$46K range, as the bulls are trying to push the price higher after confirmation of the FED, raising the interest rate to 0.5% – a figure which was anticipated by the majority of analysts and market participants.
Technical Analysis:
The Daily Chart:
Technical Analysis By: Edris
The price broke above the 50-day moving average once again and is currently approaching the 100-day moving average, which is the next dynamic resistance, ahead of the significant $46K zone.
If the price is able to reach the $46K zone, a bullish breakout would be probable as this level has already been tested multiple times, leading to lots of liquidity being created above this level in form of buy-stops. However, if the price gets rejected by the lower band again, the 50-day moving average and the $36K level could act as support and hold the price.
Source: TradingView
The 4-Hour Chart:
On the 4-hour timeframe, the price has broken the triangle pattern to the upside. Th

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