Bitcoin Breaks 5-Month Losing Streak With $68K March Close: What’s Next?
Cointelegraph
Bitcoin ended a five-month losing streak with a 2% gain in March, potentially signaling a bullish reversal based on historical patterns.Summary
Bitcoin (BTC) concluded March with a 2% increase, marking the end of its longest monthly losing streak since 2018. This positive close has sparked optimism among analysts, with some pointing to a similar pattern in 2018/2019 that preceded a 316% price rebound over five months. However, significant resistance lies between $70,000 and $72,000, where key trend lines converge. Historical data suggests April could be profitable, with an average return of 12.2% since 2013, but also notes a tendency for Bitcoin to move inversely to March's performance. Key price levels to watch include the $70,000-$72,000 resistance zone and support levels at the 200-week EMA ($68,300) and SMA ($59,400).
(Source：Cointelegraph)