Bitcoin’s five-month losing streak may not end in March as $70K caps price

💡 DMK Insight

Bitcoin’s struggle to convert resistance into support is a classic setup for volatility. Historically, when bulls face multiple resistance levels, it often leads to a consolidation phase before a breakout. If Bitcoin can’t flip these levels soon, we could see a pullback, especially with traders eyeing the monthly close. Look for key levels to monitor: if Bitcoin holds above its recent highs, it could signal a bullish reversal, but a failure to do so might lead to a retest of lower support levels. This scenario could also impact altcoins, as they often follow Bitcoin’s lead. Keep an eye on trading volume and sentiment indicators; a spike in selling pressure could indicate that the bears are gaining control, pushing prices lower. Here’s the thing: while the bulls are pushing hard, the market’s historical patterns suggest patience might be necessary. If resistance holds, consider adjusting your positions accordingly and watch for any shifts in market sentiment that could signal a change in direction.