According to KOL Justin Bennett, BTC confirms bullish signals and strong performance in March

Prominent analyst Justin Bennett says BTC has crossed the descending channel and is likely to start a new bull run.

He told his 98,000 Twitter followers that BTC posted a bullish confirmation pattern towards the end of the month, surpassing the highs of the past few days.

“Confirming bullish sentiment is forming. Last day of February, not bad.”

 Source: Justin Benett/Twitter

Bennett also pointed out that Bitcoin was recording its highest volume in seven months just as it reversed from $34,000, indicating a drastic trend reversal.

“The candle that made the recent low at $34,000 was the day that the BTC/USDT pair saw the highest volume on Binance since late July 2021.

Great”.

Source: Justin Benett/Twitter

Bennett says a daily close above $39,600 is key for BTC to trigger the uptrend continuation.

“BTC closing above $39,600 is key to move higher.

Notable events in March include CPI on the 10th and FOMC on the 16th and of course all developments around Russia and Ukraine.”

Bennett has predicted that March will be a bullish month for the leading cryptocurrency. Last week, he argued that it was entirely possible for BTC to rally to $50,000 in March.

“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…

Bitcoin has two floors here. This is a potential double bottom for the market.

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.”

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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