The post Bitcoin Price Recovery Paints Familiar Pattern—And That’s the Problem: Analysis appeared on BitcoinEthereumNews.com.

In brief Bitcoin climbed above $71,000 today, offering bulls their first glimpse of relief since February’s collapse. At the same time, the price move has formed the same compressive wedge pattern that preceded Bitcoin crashes in October 2025 and January 2026. On Myriad, traders are calling it a toss up on whether Bitcoin pumps to $84K or dumps to $55K first. After a brutal February that took Bitcoin from the mid-$90,000s all the way down to a $59,000 low, the market finally has something to feel decent about. BTC is up roughly 4.65% today, trading around $71,013 and shaking off some of the fear that dominated the last several weeks. The problem is, in doing so, Bitcoin has drawn an all too familiar pattern on its charts—and one that suggests a price crash could be in the cards. The broader market, meanwhile, is still anticipating hard times. Stocks sunk to four-month lows after news of a delay to potential U.S.-Iran military strikes, pushing crypto alongside equities in a mild risk-on move. WTI crude dropped sharply, and the crypto market is once again in “extreme fear” territory, based on the Crypto Fear and Greed Index. Despite this, some Bitcoin bulls believe this is a good time to buy, considering the last time Bitcoin had a similar spike was at the beginning of the month. So who’s right? Here’s what the charts say: Bitcoin (BTC) price: by the numbers Bitcoin is, indeed, having a nice start to the week: a 4.6% spike, going from $67,844 to a daily high of $71,811, before settling around its current price of $70,985. This movement is trying to break past the resistance of the average price of Bitcoin in the last 200 days, which is a real test of trend strength. Bitcoin price data. Image: Tradingview…

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Filed under: News - @ March 23, 2026 9:29 pm