Bitcoin (BTC) Price Prediction for March 31
Neither bulls nor bears have seized the initiative on the last day of the week, according to CoinMarketCap.
BTC/USD
The rate of Bitcoin (BTC) has risen by 0.66% since yesterday. Over the last week, the price has risen by 7.72%.
On the hourly chart, the price of BTC is trading above the local resistance level of $70,555. If the situation does not change by the end of the day, the rise may continue to the $71,000 area tomorrow.
Bears have failed to maintain the fall after yesterday’s bearish candle closure. If the rise continues and the bar closes not far from the resistance of $71,649, the accumulated energy might be enough for a breakout followed by a blast to $73,000.
Bulls are more powerful than bears on the weekly chart. However, it is too early to make any far predictions as the rate has not reached the recently formed resistance of $73,755.
If the growth continues, traders may expect a new all-time high in April.
Bitcoin is trading at $70,710 at press time.