Cryptocurrency, and Bitcoin (BTC) in particular, saw another successful week with it closing out the month of March at near $28,500. The overall sentiment of the market is optimistic as traders eye an upward break past the major resistance/support of the last two years. The breaking of this key point of resistance could lead to a 'massive' liquidity squeeze and an extended price target above $30,000. Short term traders are cautiously optimistic, waiting for the weekly close to cement prior gains and looking for the bulls to reclaim the range high at $28,750.

The month of March was overall a successful one for Bitcoin with it seeing 23% growth. This almost matches 2021's overall performance, with 2013 remaining the most volatile year yet. The trend mimics both years and has at least seen three months of growth before significant consolidation began.

Crypto-analysts on social media cite a possible minimum price of Bitcoin at $35,000 even if the key resistance point of $30,000 isn't reached. It is clear that the investor confidence in Bitcoin remains strong and should it break the $30,000 mark the impact on the cryptocurrency market could be immense. Momentum is definitely with the bulls and, with a bullish weekly close, the cryptocurrency's trajectory looks only up from here.



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