Esteemed crypto trader, Kaleo (@CryptoKaleo), took to Twitter this morning to reaffirm his bullish stance on the crypto market leader, Bitcoin (BTC). In a succinct yet powerful tweet, he reminded his followers that “nothing has changed” and that BTC’s pull towards the $40K mark remains as strong as ever. As a seasoned expert in the field, Kaleo’s unwavering confidence in BTC is a reassuring beacon for investors and enthusiasts alike.
According to the latest data from CoinMarketCap, BTC has experienced a 3.46% surge in price over the past 24 hours. However, despite this positive momentum, the cryptocurrency’s weekly performance still declines -by 0.80%. Currently, BTC is being traded at $28,007.43, maintaining its position as the top crypto by market cap.
Bitcoin (BTC) has secured a prominent position on CoinMarketCap’s trending list, currently holding the coveted second spot. It sits just below Arbitrum (ARB) and above Ripple (XRP), showcasing its strong market presence. However, BTC’s market dominance has experienced a slight dip of 0.02% in the past 24 hours, bringing it to an impressive 46.07%.
On 21 March, the price of BTC experienced a significant dip as it broke below the positive trend line on its daily chart. Since then, the crypto has been consolidating between $26,617 and $28,138. This past Monday, the price appeared to have lost the support of the 9-day EMA line, but it has since rebounded and is currently trading above that level. As always, the crypto market remains volatile and unpredictable, and investors should exercise caution and diligence in their decision-making.
If BTC closes above the 9-day EMA level today, it could indicate a bullish trend. Nevertheless, BTC’s price will remain within its current range as investors await the release of US Economic data later this week.
Should BTC’s price successfully breach and maintain a close above the resistance level of $28,138 within the next 24 hours, it will probably progress toward the subsequent resistance level of approximately $28,318.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
