The renowned crypto market education and analysis platform, IncomeSharks (@IncomeSharks), took to Twitter this morning to announce the initiation of an upward trend for the crypto market’s flagship currency, Bitcoin (BTC). Per their tweet, the current market sentiment is constantly shrouded in apprehension and negativity.
IncomesSharks has recently taken to Twitter to share an update on the current state of BTC trading. According to their latest tweet, there is a surge in volume for the cryptocurrency, potentially impacting its price by the end of March or even earlier. This latest development is a testament to the accuracy of IncomesSharks’ previous tweet, which had already hinted at an increase in volume. As a trusted source in the industry, IncomesSharks’ insights are invaluable for those looking to stay ahead in cryptocurrency trading.
As of the latest update, the foremost player in the cryptocurrency market has experienced a 1.36% surge in its value, as reported by CoinMarketCap. Though this upward trend is a welcome development, it has yet to offset the negative performance of BTC over the past week. The price of BTC has dipped by 9.48% in the last seven days, bringing its current value to $10,260.34.
Over the past 24 hours, there has been a significant surge in the daily trading volume of BTC. As of the latest update, the daily trading volume of BTC has risen by 5.12%, resulting in a total volume of $39,426,198,695. This uptick in trading activity signifies a significant shift in market dynamics and highlights the growing interest in cryptocurrency.
The current market trend for BTC indicates a decrease in value as it struggles to maintain the crucial support level of $19,900, as evidenced by the visible wick above today’s daily candle.
If BTC closes today’s trading session above the $19,900 mark, we may witness a potential uptrend in the next 24-48 hours. However, before traders and investors can confidently enter a long position for BTC, the resistance level at approximately $20,600 must be overcome. This bullish thesis presents an opportunity for those closely monitoring BTC’s movements to make informed decisions and potentially reap the benefits of a successful trade.
