Market Update Mar 7: BTC Bitcoin / TetherUS PERPETUAL CONTRACTBINANCE:BTCUSDT.PJuliiaThe current market situation still looks bullish to me, since we have a strong long signal on the weekly timeframe in the form of convergence. Locally, the price has entered a formation that is shaping into a flag. If this is consolidation after the drop and we are meant to continue moving down, then the target of this flag would be around 58k. But if we move higher and the weekly long signal from the higher timeframe plays out, this could turn into an ascending channel as a correction to the decline. The nearest strong resistance level is at 90k. For now, I expect the local upward movement to continue.