Analysis

Here’s how Bitcoin could surge to $50,000 in March, according to KOL Justin Bennett

A prominent analyst is outlining a roadmap for how Bitcoin (BTC) could reclaim $50,000 in the coming weeks.

In one Video Recently, crypto strategist Justin Bennett examined BTC’s recent price action and suggested that the leading cryptocurrency may have hit a local bottom after attempting to sustain above $35,000.

“I wanted to show you what I’m looking for in March – this potential setup could see BTC rally towards $50,000 in the next few weeks…

The first step to confirm this is a break above $39,600. The second step is a close above $46,000. This is the peak that gives the lowest bottom.So that would be the section of a double floor.”

Bennett names two key levels that, if hit, could push Bitcoin back above $50,000.

“BTC needs to see a daily close above $39,600. As well as a daily close above $46,000.

That should help it move towards the $50,000-$53,000 zone. This has been an important level on the chart for the past few months.”

BTC/USDT daily chart | Source: Justin Bennett

At the time of writing, Bitcoin is slightly up and trading at $39,148.

Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.