Bitcoin hits 3-week high as fresh impulse move sends BTC price to $43.3K


Bitcoin (BTC) saw a recent momentum to move overnight on March 22 as bulls briefly picked up $ 43,000.

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BTC / USD 1-hour candlestick chart (Bitstamp). Source: TradingView

RSI suggests underlying strength

Data from Cointelegraph Markets Pro and TradingView showed that BTC / USD reached $ 43,337 on Bitstamp on Tuesday, the pair’s highest since March 3rd.

The action contrasted with the lack of volatility since the weekend, and clearly matched the more bullish predictions around the near-term trajectory.

For popular retailer Crypto Ed, which previously gave $ 43,000 as a low-end target, everything will work out.

Co-analyst Matthew Hyland meanwhile okulumis a possible explosive scenario for Bitcoin’s relative strength index (RSI) on the daily chart – a phenomenon that has often preceded price strength.

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BTC / USD 1-day chart (Coinbase) with RSI. Source: Matthew Hyland / Twitter

“BTC is a few hundred dollars away from the first higher hill we’ve seen in a long time. Will it happen?” crypto market analyst Kevin Svenson added.

Bitcoin has already sealed an impressive weekly close on Sunday, its highest since early February, and now, macro indicators have once again added to the positive momentum.

Trading was strong for Asian markets on the day, the Hong Kong Hang Seng index rose 3.15% at the time of writing.

In Europe, however, there was little sign of a knock-on effect, while U.S. futures likewise declined before the opening of Wall Street.

The higher push, however, managed to squeeze out a few short positions through cryptocurrency, as evidenced by data from an on-line monitoring resource. Coinglass.

Total 24-hour cash flow was $ 168 million at the time of writing.

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Crypto-liquid diagram. Source: Coinglass

Ethereum returns $ 3,000 in altcoin copy rally

At high heels, the picture also became more rosy at night.

Related: Price Analysis 3/21: BTC, ETH, BNB, XRP, MOON, SUN, ADA, AVAX, DOT, DOGE

The top ten cryptocurrencies in terms of market share were led by Cardano (ADA), which was 5.8% higher in 24 hours to limit weekly gains by close to 20%.

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ADA / USD 1-day candlestick chart (Coinbase). Source: TradingView

Other major tokens were doing well as well, including Polkadot (DOT) and XRP.

Ether (ETH), the largest altcoin, tapped $ 3,000 in step with the accumulation of Bitcoin before consolidating immediately below that psychologically significant level.

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ETH / USD 1-hour candlestick chart (Bitstamp). Source: TradingView