Bitcoin

Bitcoin prices increased by about 22% in March, jumping from $23,450 to over $28,500 by the end of the month. The massive bullish candle has replicated the one from January, indicating the asset&#39;s next major move.On April 2, market expert &#34;The Birb Nest&#34; stated that the monthly candle has caused Bitcoin to have an even more bullish profile on the daily time frame. He mentioned that the daily trend support is currently above $22,500. This &#34;may serve as a reference point or anchor for many traders, boosting the likelihood that BTC will move toward the 200-day average price.&#34;He said that consolidation in the $26,500 to $29,300 range could be connected with a continuation pattern. According to CoinGecko, Bitcoin is now trading down 2.4% on the day at $27,786 during the Monday AM Asian trading session.During the weekend, the asset failed to break above support at $28,500 and has since dropped marginally. However, it remains within the consolidation range that has established during the last two weeks.Upward resistance is about $29,000 to $29,500, while lower support is little over $27,000. &#34;A break outside these Bands may indicate a more powerful breakout with the formation of a new short-term trend,&#34; the expert confirmed. With the latest bullish candle, fellow analyst &#34;Rekt Capital&#34; confirmed that the macro downturn had ended.There are further signs that Bitcoin prices may rise. Another expert reported on April 3rd that prices had crossed a 21-day exponential moving average signal, which is going to print a very bullish pattern. &#34;This happened just in 2015 and 2019.&#34; This signal has triggered the major bull run both times.&#34;In the short term, crypto markets fell 1.9% on the day, with total capitalization falling to $1.2 trillion according to CoinGecko. Bitcoin has dropped below $28,000, and Ethereum (ETH) is down 2.2% to $1,778 at the time of writing. Today&#39;s altcoins are all in the red, with Dogecoin (DOGE), Solana (SOL), Polkadot (DOT), Shiba Inu (SHIB), and Avalanche (AVL) all losing more than 4%. (AVAX).

Bitcoin March Monthly Close Paints Bullish Picture

ItsBitcoinWorld

Andre artikler udgivet 4. apr. 2023

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