Bitcoin Grips $40K as Volume Clues at Multi-month BTC Arise

On March 18, Bitcoin reduced its consolidation range when the TradFi trading week ended at $40,000. Disseminated data showed that BTC/USD maintains $40,000 support overnight; the area marked by analysis on Thursday is crucial. Macro hints declined after confirmation of the US Federal Reserve rate hike; the lack of new triggers from Europe puts the markets in a stable position. For Crypto Ed, the next few days will either continue the $43,000 target zone or a break with the current trend.

However, according to experts, the cycle was still falling short before the $45,000 range was broken. This can happen after a few more consolidation steps between them. These moves, specifically the strong acceleration during resonance, will be the signal. Other participants also increasingly valued the perspective. Twitter trader Zima also highlights long-term trends for balance sheet volume.

The increase in OBV reportedly reflects the growing demand for the current trading price of the asset. For Bitcoin, it seems January 2021 was the time to move out of the sidewall zone. Zima said he did not transfer any of the lines to OBV since the move was tracked eight weeks ago.

New Heights of Bitcoin

Allen Au added optimism and monitored the potential movement of Bitcoin in the 2022 range for a total of $46,000. New developments followed on Sunday for the growth of the Bitcoin network, especially the Lightning Network, which surpassed the 3,500 BTC capacity.

As part of the so-called “Layer 2” technology on Bitcoin, Lightning allows instant-chain transactions to be sent instantly en masse at virtually zero cost. This technology has been around for several years. It has been quietly growing behind the scenes to serve growing volumes and critical customers. Analysts estimate that the Lightning Network continues to grow at an impressive pace.