Analysis: Bitcoin ends its 5-month streak of decline and turns upward. In April, the critical bullish and bearish range may lock in the $70,000 level.

ME News message, April 1 (UTC+8): Bitcoin rose about 2% in March, ending a streak of five straight months of declines. This marks the first positive turn after the longest consecutive losing cycle since 2018, and the market is watching for signs of a trend reversal. Historical data shows that when months of decline turn to gains, it is often accompanied by a strong rebound. In 2019, after a period of continuous declines, Bitcoin saw a gain of about 300%. Some analysts believe the current cycle may have already reached a temporary bottom near $60k. However, seasonal patterns suggest a divergence in April’s outlook: since 2013, April has mostly seen gains, but in recent years—after March closes higher—April has a higher probability of turning lower. The near-term direction remains uncertain. From a price perspective, current BTC is trading around $68k. The key resistance zone above is $69k to $70k, and further up to watch is the supply zone between $70k and $72k. If there is an effective breakout, it could push toward $76k or even $80k; conversely, if prices face pressure, the market may continue in a range-bound pattern. (Source: ODAILY)