- Little has changed for the cryptocurrency market over the past 24 hours as prices largely continue to consolidate following the hot start to 2023 that has seen Bitcoin gain more than 71% while the total cryptocurrency market cap has increased by 53.6%.
Data from TradingView shows that Bitcoin bulls managed to recover from a late plunge below $27,500 on Monday evening to elevate the top crypto to a high of $28,518 on Tuesday afternoon before profit-taking led to a pullback to support at $28,300.Despite the overnight dip, April Bitcoin futures prices traded higher on Tuesday, according to Kitco senior technical analyst Jim Wyckoff.
As for what level BTC needs to clear in order for it to move higher, market analyst Michaël van de Poppe highlighted $28,400 as the launching point for a run to $30,000. Crucial area to break is $28,400 which ultimately results into bullish continuation towards $30,000. pic.twitter.com/zX4BrCMnVY