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ZyCrypto 2025-03-04 17:49:56

Bullish Patterns Spotted in March: Upside Potential More Attractive as Bitcoin Returns to $85,000

Bullish Patterns Spotted in March: Upside Potential More Attractive as Bitcoin Returns to $85,000

After successfully closing February above the $80,000 price in March, the new month looks promising for the apex cryptocurrency Bitcoin. Observing a handful of positive trends, key figures have outlined their bullish expectations for Bitcoin in March. Pseudonymous crypto trader and investor DaanCrypto highlights Bitcoin’s chances at making a full comeback. “With BTC at $80K, the upside potential will be more attractive to sidelined capital again. E.g. The $150K level is something that has been discussed a lot. That’s almost a 100% gain from this point. Compared to a ~50% move just a week earlier.” He wrote. The risk/Reward ratio is also notably promising, courtesy of the recent market dump. As Dan remarks, assets are 20% cheaper. Long-term holders are expected to increase their investments, while a new entry point opens up for newbies. Affirming the bullish sentiments, analyst Miles Deutscher reminds the market that March has historically been an excellent month for Bitcoin, adding that the asset typically averages a 13.12% around this time. “This makes it [March] the third strongest month of the year after October and November. Seasonality should be taken with a grain of salt, but it’s still something to consider.” Deutscher wrote. Bitcoin sustains momentum above $85,000 as market optimism heightens On February 28, Bitcoin sustained heavy losses as the asset plunged below the $80,000 price mark. Some market players received the new development as a bottom signal, as liquidations surpassed $680 million. It bears mentioning that Bitcoin had previously recorded massive losses in March, as prices fell by 17.5%, marking the largest monthly loss recorded since 2022. The asset hit a three-month low of $78,273 before retesting previous support levels. After finding support at $78,100 last week, the bulls pushed prices up to $90,320, a crucial point that sent the asset to a $94,204 high before it experienced a mild downward reversal. Bitcoin has successfully secured 10% in daily gains. With daily trading volume soaring up by 193.33%, Bitcoin is trading at a press time price of $85,412, a few thousand dollars away from its all-time high of $109,114.

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