Bitcoin paints a clear ‘double bottom’ but ailing momentum could force a $34K retest

Bullish optimism returned to the cryptocurrency market on March 1after a majority of tokens turned green and Bitcoin bulls telegraphed their intention to hold the $40,000 level as support going forward.

Data from Cointelegraph Markets Pro and TradingView shows that the price of Bitcoin (BTC) has surged 20% from a low of $37,409 on Feb. 28 to an intraday high at $44,951 on Tuesday.

BTC/USDT 4-hour chart. Source: TradingView

Here’s what several analysts are saying about the sudden bullish…


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