BTC prices closed weekly, monthly, quarterly at record levels
Bitcoin brought a beautiful end to Q1 for bulls, closing the weekly, monthly and quarterly on March 31 at nearly $70,300 â marking the highest level in history.
What followed was a pullback that took the market by surprise as the price slid to the low $66,000 range, hitting an intraday bottom at $66,320 causing nearly $500 million in liquidation, as Bitcoin Magazine reported.
As a result, on short timeframes, BTC/USD remains within a familiar range from last month as $69,000 â the previous all-time high recorded in 2021 â continues to serve as the focus of the market.
For famous trader Skew, caution is needed until there are clearer trend signals.
âWill have to observe more before jumping into positions,â he wrote on X. âSo far, the 4H trend is still intact, the market needs to maintain this with spot buying pressure & reasonable bids Perpetual copper is enough to gain momentum.â
Skew also flagged the Wall Street opening as important, marking the return of ETF flows.
âThe biggest HTF level today is $69k,â he confirmed on higher timeframes. âMonthly/weekly openings will be important going forward.â
Trader Rekt Capital is more bullish on weekly, monthly and quarterly closes.
He argued that Bitcoin could easily challenge the top of the range to confirm it as longer-term support before using this level as a basis for a new rally.
