Bitcoin Breaks 5-Month Loss at $68K March: What’s Next?

Bitcoin (BTC) closed March in the green, ending its longest monthly losing streak since 2018, with data suggesting that the coming months could be profitable for BTC.

Main Receptors:

Bitcoin rose 2 percent in March, posting its first green monthly close in six months.

In the year A similar growth trajectory in 2018/2019 saw BTC price recover over 316% in five months.

Bitcoin price will face strong resistance at $70,000-$72,000 where key trend lines intersect.

The previous multi-month swings were followed by 300% price gains.

Historical price data from CoinGlass confirms Bitcoin posted its first green monthly candlestick in six months, rising 2 percent in March after five straight months of losses.

“This is a massive amount of hopium,” analyst Ash Crypt said in an X post on Wednesday.

As seen in previous cycles, the analyst is likely to signal a change in momentum that could lead to a sustained recovery.

Related: Crypto Fear and Greed Index Stuck on ‘High Fear', But Is There a Silver Lining?

The last time this happened was in In 2018/2019, BTC closed in the green in February 2019 after six consecutive months in the red, as shown in the image below.

This led to a reversal with more than 300% returns over the next five months, as Bitcoin bounced back from the 2018 bear market.

“Last time BTC dropped 6 months in a row, it sparked a 5 month streak that followed!” Trader Satoshi Flipper said in a post on X Wednesday.

If history repeats itself, the reversal may continue in April, when the price of BTC may drop to $60,000.

Bitcoin's monthly close is “encouraging for new inflows until early April,” trader Caleb said.

“April starts fast.”

Bitcoin tends to fluctuate significantly in April.

Since 2013, April has been the greenest month for eight of the past 13 years, with an average return of about 12.2 percent.

However, Bitcoin also tends to move in the opposite direction in April to March, and this has been true for nine of the past 13 years.

In recent years, after closing three out of four periods in the green between 2021 and 2024, bitcoin fell in April.

So, while the end of past multi-month upswings suggests a recovery period, data suggests that BTC price may slide in April as well.

Next look at these Bitcoin price levels

Data from TradingView shows that BTC is up 2.5% on the day to trade at $68,470, with resistance at $69,000-$70,000.

Analysts expect Bitcoin's range-bound price action to continue longer, looking for a breakout of important price levels.

These include the $70,000-$72,000 supply zone, coinciding with the 50-day Simple Moving Average (SMA), the 50-day Exponential Moving Average (EMA) and the 1w–1m confederate cost base.

This is where investors got roughly 650,000 BTC, which is a sign of a selling pressure point, according to Glassnode's cost-based distribution data.

A break above this level could see BTC/USD revisit the $76,000 high and eventually the $80,000 psychological level.

Highlighting, trader Sheldon Diedericks Bitcoin can “push to resistance” at $83,000 on the monthly time frame, a key support level from April 2025. The 200-day EMA is also close to this area.

On the downside, the 200-week EMA at $68,300 and the 200-week SMA at $59,400 remain key levels to watch. Below that, the next major level is Bitcoin's guaranteed price at around $54,000.

As Cointelegraph reports, a Bitcoin bear market bottom may occur after the price of BTC falls below the perceived value.