{"id":523746,"date":"2023-03-20T07:59:13","date_gmt":"2023-03-20T07:59:13","guid":{"rendered":"https:\/\/wncen.com\/?p=523746"},"modified":"2023-03-20T07:59:13","modified_gmt":"2023-03-20T07:59:13","slug":"bitcoin-price-barrels-past-28k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-barrels-past-28k\/","title":{"rendered":"Bitcoin Price Barrels Past $28,000 – Can BTC Keep Pushing This Week?"},"content":{"rendered":"
Bitcoin price is proving its resilience as the world’s most popular cryptocurrency surges past the $28,000 level today, gaining 3% in the last 24 hours alone. March saw the start of the anticipated leg of an uptrend that pushed BTC to nine-month highs, leaving experts questioning what’s behind this remarkable run.\u00a0<\/span><\/p>\n At the time of writing, Bitcoin was trading at $28,284, up 27% in the last seven days, data from crypto market tracker Coingecko shows.<\/p>\n <\/p>\n Bitcoin had a strong start to the year, with a 41% increase in the first three weeks, but then hit a Fair Value Gap (FVG) and pulled back to balance. This allowed buyers to step in and push Bitcoin to a nine-month high of $27,763.\u00a0<\/span><\/p>\n With Bitcoin’s aggressive momentum, analysts expect the alpha coin to further climb to $29,000.<\/span><\/p>\n Overall, Bitcoin’s price movement is influenced by a power struggle between bulls and bears, resulting in periods of sideways movement and pullbacks to rebalance. <\/span><\/p>\n While the current position of BTC suggests a possible extension of the rally, investors should also be cautious of bearish signals from momentum indicators, which may indicate a future correction.<\/span><\/p>\n Just like previously asked on #Bitcoin<\/a>, we got the answer now as well.<\/p>\n Are we staying above $26,800? Answer is clear; yes.<\/p>\n This means, trend will continue to last until $26,800 is lost.<\/p>\n Looking for a final sweep into $28,300-28,900 and then reversal. pic.twitter.com\/d6lK0CWAjx<\/a><\/p>\n \u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) March 18, 2023<\/a><\/p><\/blockquote>\n Despite the slight dip in BTC\/USD over the weekend, Micha\u00ebl van de Poppe, who is the founder and CEO of trading firm Eight, remains hopeful about the short-term future of the cryptocurrency.<\/span><\/p>\n Van de Popperend says<\/span><\/a> the trend will continue to last until $26,800 is lost, adding it will go through \u201ca final sweep into $28,300-28,900 and then reversal.\u201c<\/span><\/p>\nBitcoin Price Draws Highest Weekly Close In Nine Months<\/strong><\/h2>\n
Source: Coingecko<\/pre>\n
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A Final Sweep Before Reversal<\/strong><\/h2>\n
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BTC total market cap at $536 billion on the daily chart at TradingView.com<\/a><\/pre>\n