Bitcoin Market Structure Points To New Uptrend, Here’s Why

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,222,472,704,148	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,222,472,704,148

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-218.09	-0.35%	61,856.41	61,856.40	61,856.41

Price Change

Price Change %

Current Price

Bid Price

Offer

-218.09

-0.35%

61,856.41

61,856.40

61,856.41

High Price	Low Price	Open Price	Prev. Close	52 Week Range
62,200.00	61,686.34	62,127.85	62,074.50	26,521.32 - 73,835.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

62,200.00

61,686.34

62,127.85

62,074.50

26,521.32 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	05:06:45	0.000903	61,856.41	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

05:06:45

0.000903

61,856.41

USD

Price x Volume	Volume	Base Symbol	Related Pairs
32,207,579.73	519.51	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

32,207,579.73

519.51

Bitcoin Market Structure Points To New Uptrend, Here’s Why

31/03/2023 11:44pm

NEWSBTC

Bitcoin price is trading above $28,000, only roughly $4,000 away from doubling in value since the most recent low. The recent changes in market structure in BTCUSD could indicate a new uptrend is taking form. Find out why below. Bitcoin Price Forms Uptrend, Will It Sustain? Bitcoin has outperformed nearly every other asset in finance in 2023. In recent weeks, it has been sucking the capital out of altcoins due to its seemingly unstoppable power in the face of a banking crisis. Related Reading: Bitcoin Priced In Bank Shares Is The Crypto Chart You Can’t Miss With the top cryptocurrency by market cap trading just under $30,000 per coin, it’s now within striking distance of a key level that could signal that the bottom is in. After a bottom is in, a new bull run forms. According to the BTCUSD price chart, Bitcoin could be on the brink of a new uptrend in the most definitive terms. In fact, an uptrend, in theory, is already active. BTC has been in an uptrend already | BTCUSD on TradingView.com BTCUSD And Defining The Current Crypto Market Trend The Merriam-Webster dictionary refers to an uptrend as any upward turn in economic activity or business. More specifically to technical analysis, an uptrend is a series of higher highs and higher lows. As BTCUSD or any asset follows this sequence of swing highs and swing lows (smaller fluctuations are allowed) the uptrend remains intact. Related Reading: This Bullish Bitcoin Technical Signal Suggests The Bottom Is In When a new lower low or lower high is set, the sequence breaks and market structure now becomes what is referred to as consolidation. If lower lows and lower highs form in a repeated series, then the market is now in a downtrend. It is that simple. Since November 2022, Bitcoin price has set a series of higher highs and higher lows. If this continues, even the most bearish on BTC will have to admit that these conditions, by definition, indicate a new upward trend. #Bitcoin is in an uptrend in the simplest sense of the term. pic.twitter.com/V8QXZtvcMY — Tony "The Bull" (@tonythebullBTC) March 31, 2023 Follow @TonyTheBullBTC on Twitter or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com

Market Data

News

Trading Tools

Markets

Discover

Hot Features

Follow Feed

Options Flow

Monitor

BTCUSD Bitcoin