BTC Price Remains Consistent around $28K

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Bitcoin Is Approaching a Possible Breakout as BTC Price Remains Consistent around $28K – March 31, 2023

Since March 19, BTC/USD has fluctuated in a range BTC price remains consistent around $28K. The bears’ continued selling during each rally shows that they are still in it. For example, the most recent selling pressure was resisted on March 30 at a high of $29,171.

Bitcoin Price Statistics Data:•Bitcoin price now – $28,555.82•Bitcoin market cap – $552,092,790,129•Bitcoin circulating supply – 19,333,812 BTC•Bitcoin total supply – $599,838,434,524•Bitcoin Coinmarketcap ranking – # 1

Resistance Levels: $50,000, $55, 000, $60,000 Support Levels: $25,000, $20,000, $15,000

The largest cryptocurrency, Bitcoin, maintained its range-bound movement between $26,500 and $28,500 as it continued to retest the $29,000 resistance level. At the peak of $29,171, buyers made one last push on March 30 but were rejected. The price movement will continue if the bulls keep buying the dips. The price of BTC will rise and either retest or cross the resistance level. When the $ 29,000 resistance is not broken, the price of Bitcoin will retrace to the present support level at $26,500 or the 21-day SMA.

Typically, a price rebound above the current support can break through the resistance zone. Bitcoin will surge above the psychological price level of $30,000 if the $29,000 resistance is overcome. The bullish momentum will take it to the $32,000 high. On the other hand, if the price of BTC declines below either the current support level or the 21-day SMA, the selling pressure may reappear. Bitcoin will drop to a low of $25,000 before falling to a low of $20,000.

Despite the Recent Binance Crackdown, Bitcoin Briefly Reaches $29K

The price of BTC briefly crossed $29,000 on March 30 despite ongoing crypto crackdowns, setting a new high for 2023. Despite recent regulatory crackdowns on cryptocurrency firms in the United States and associated uncertainty, the price of Bitcoin briefly tipped over $29,000 on March 30, setting a new high for the year. According to reports, on March 30 the price of Bitcoin rose to levels last seen just before the FTX cryptocurrency exchange failed in early November 2022, reaching a high of $29,132.82. The growth occurs despite recent regulatory crackdowns, including the March 27 lawsuit filed by the US Commodity Futures Trading Commission against Binance and its CEO Changpeng “CZ” Zhao. Many industry commentators were taken aback by Bitcoin’s price recovery after such a shocking development. According to some, this is because it is predicted that the lawsuit will only result in minor fines for the largest cryptocurrency exchange by volume of transactions.

BTC/USD – 4 Hour Chart

The Bitcoin price is poised to retest the resistance level as it remains consistent around $28K. On March 30, the BTC price attempted to break through the resistance level but was met with additional selling pressure at a recent high. Bulls bought the dips, which helped the cryptocurrency recover. However, the March 30 long candlestick wick shows that there was significant selling pressure at a higher price point.

Alternatives to Bitcoin

Bitcoin’s (BTC) price has risen after 48 hours of decline. The resistance level of $29,171 is a barrier that buyers are determined to breach. The relative stability of the BTC price illustrates how strong the uptrend is. Traders buy on dips each time the price of BTC drops. This will increase the probability of a break above the most recent high. But if there is a strong bounce off of this level, it could signal a breakout above the $29,000 high.

The BTC price will soar above the psychological price barrier of $30,000. Other cryptocurrencies and tokens will eventually participate in the current bull market. This includes the new LHINU tokens, whose value has increased reasonably. There are less than 4 days left to purchase LHINU during this presale. Be quick. Don’t risk missing out; move quickly and seize the opportunity. You lose if you sleep. People, LoveHateInu is the best voting token. Talk about trending subjects and get rewards like never before. Pre-order LHINU right this second. Avoid missing out. Approximately $2.5 million has already been raised during the presale.

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