There continues to be growing anticipation about the direction Bitcoin's price action will take in the coming weeks leading up to the Halving scheduled for the third week of April, the predictions are mostly bullish considering that last March Bitcoin broke several new records which in a way creates a greater likelihood of upward rallies.
Now, as for the true fact about the new records that Bitcoin broke last March it was released that, "Just below USD 70,300, the weekly, monthly and quarterly close on March 31 became the highest in history."
However, "On short timeframes, the BTC/USD pair remains trapped in a range that was already familiar from last month. The USD 69,000 level - its former all-time high of 2021 - continues to act as a market focus."
In appreciations of popular trader and analyst Rekt Capital, "Bitcoin's price action could easily challenge the top of its range in order to confirm it as long-term support before using it as a base for a new high."
The fact that Bitcoin broke several new records last March has created a number of optimism, to Michaël van de Poppe's knowledge, "the low timeframe trend revolves around two clear levels: the USD 67,000 and the 71,700", in that sense it is a pre-Halving price range.
SOURCES CONSULTED
Cointelegraph. Highest monthly close ever — 5 things to know in Bitcoin this week. Link
OBSERVATION:
The cover image does not belong to the author: @lupafilotaxia, the image was taken from: Cointelegraph
