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Analyst Benjamin Cohen believes that bitcoin BTC $77,951.45 Bitcoin -1.81% Market capitalization $1.56 trillion VOL. 24 hours $1.25 billion may show short-term growth in March if the historical scenario repeats itself. In his new review, he notes that BTC usually weakens in January-February, recovers in March, and then shows a decline again in April-May.
Cohen emphasizes that March moves often form a «lower high» before a new decline. As an example, he cited 2018, when bitcoin, after falling to $ 6,000 in February, stayed above this mark until April, and new lows were recorded only in the summer.
On the chart, he highlights the $ 74,000-$ 75,000 zone as a potential resistance level. This is the area of the previous breakdown, which could limit further growth.
Separately, Cohen draws attention to the «bear market resistance band,» which is currently at $ 85,000, but is gradually declining.
Thus, March may bring a short upward momentum, but historical data suggests that without new demand, the market risks moving back to a phase of weakness in April-May.