{"id":17122,"date":"2025-03-11T04:02:09","date_gmt":"2025-03-11T04:02:09","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=17122"},"modified":"2025-03-11T04:02:09","modified_gmt":"2025-03-11T04:02:09","slug":"bitcoin-following-megaphone-pattern-is-it-time-to-accumulate-btc-analyst-explains","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=17122","title":{"rendered":"Bitcoin Following \u2018Megaphone Pattern\u2019 \u2013 Is It Time To Accumulate BTC? Analyst Explains"},"content":{"rendered":"
\n

According to an X post<\/a> by crypto trader Merlijn The Trader, Bitcoin (BTC) is following the \u2018megaphone pattern\u2019, positioning the top cryptocurrency for potential upside momentum. However, BTC must stay above the $72,000 price level for the pattern to play out.<\/p>\n

Bitcoin Following Megaphone Pattern \u2013 Time To Buy?<\/h2>\n

Earlier today, BTC tumbled below the critical $80,000 price level, hitting a low of $78,390 on the Binance cryptocurrency exchange. At the time of writing, the flagship digital asset has a total market cap of $1.57 trillion.<\/p>\n

Despite the recent slump<\/a>, crypto analysts remain confident in BTC\u2019s long-term bullish outlook. Sharing a monthly trading chart, Merlijn The Trader highlighted that Bitcoin is following the broadening wedge, also known as the megaphone pattern.<\/p>\n

For the uninitiated, the megaphone pattern, or broadening wedge, is a technical chart formation where Bitcoin\u2019s price exhibits higher highs and lower lows, creating an expanding shape. This pattern signals increasing volatility and market indecision, typically preceding a strong breakout or breakdown.<\/p>\n

While there is a risk of BTC breaking down from its current range, historical trends suggest that the digital asset is likely to break out to a higher price range. The chart shows how BTC has historically broken to the upside \u2013 highlighted in green \u2013 from previous market cycle tops, successfully re-tested the breakout, and then entered a parabolic phase.<\/p>\n

\"merlijn\"<\/p>\n

The chart also highlights that market cycle tops have typically coincided with an MVRV Z-Score trendline. Currently, the MVRV Z-Score is well below the red trendline, suggesting that BTC may still have room to rise before any significant correction.<\/p>\n

To explain, the MVRV Z Score for Bitcoin is a metric that compares the market value of BTC to its realized value, helping to identify overbought or oversold conditions. A high MVRV Z-score suggests Bitcoin may be overvalued, while a low score indicates it could be undervalued.<\/p>\n

According to the chart, BTC\u2019s current MVRV Z-Score is around 2. In the last three market cycles, this score has typically topped slightly above 4.<\/p>\n

BTC Remains In Volatile Territory<\/h2>\n

Despite US President Donald Trump following through on his promises of creating a favorable regulatory environment for cryptocurrencies and establishing a Strategic Bitcoin Reserve (SBR), the digital asset\u2019s price has failed<\/a> to reflect the positive developments.<\/p>\n

Experts believe that escalating tariff tensions and the possibility of a potential economic recession may be negatively affecting BTC\u2019s price action. Coinbase analysts attribute<\/a> BTC\u2019s recent slump to the \u201cabsence of positive catalysts.\u201d<\/p>\n

Further, crypto analyst Ali Martinez recently remarked<\/a> that BTC may face further downside to $75,000 before it finds relief from the ongoing price correction. At press time, BTC trades at $78,500, down 4.5% in the past 24 hours.<\/p>\n

\"bitcoin\"<\/div>\n","protected":false},"excerpt":{"rendered":"

According to an X post by crypto trader Merlijn The Trader, Bitcoin (BTC) is following the \u2018megaphone pattern\u2019, positioning the top cryptocurrency for potential upside momentum. However, BTC must stay above the $72,000 price level for the pattern to play out. Bitcoin Following Megaphone Pattern \u2013 Time To Buy? Earlier today, BTC tumbled below the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-17122","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/17122","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17122"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/17122\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17122"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17122"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}