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$BTCUSDT Bitcoin is currently consolidating in a descending triangle pattern, trading below the resistance trendline. The Ichimoku Cloud suggests bearish momentum, supporting the resistance level. A breakout above the triangle could signal a bullish trend, while a rejection may lead to further declines. Monitor closely for the next movement.

Ethereum’s price action is at a critical juncture, with key support and resistance zones shaping its next move. Market insights highlight important Fibonacci retracement levels and potential breakout scenarios. Dollarcurrency21 notes that Ethereum is trading below the 0.5 Fibonacci retracement level at $2,581, positioning it in a discount zone. He explains that this area attracts long-term accumulation and remains a focus for traders. He points out that Ethereum is finding support around the $1,850 demand zone, a level of historical importance that has been shaping price action. If this support gives way, he cautions that a decline to $1,640 is imminent, where deep liquidity may offer short-term respite. He thinks, however, that holding support above $1,850 may be able to continue bullish momentum and avoid further losses. On the resistance side, Dollarcurrency21 identifies $2,500 and $2,800 as key price barriers. He states that an order block at $2,800 reinforces selling pressure, making it a critical point for Ethereum’s short-term movement. He explains that breaking above these levels and surpassing the Kumo Cloud could lead to a stronger uptrend with higher price targets. Traders are monitoring these resistance zones closely, as price action within this range could determine Ethereum’s next major move. BONTESA provides further analysis through a consideration of Ethereum’s historical price movements and Fibonacci retracement levels. He sees the 0.786 Fibonacci retracement at $1,572 as a level of critical support, suggesting that remaining above this region can facilitate a bounce in price. Should Ethereum fail to sustain this level, he anticipates a slide down to quarterly support of $1,073, a price previously experienced in prior market cycles. BONTESA refers to Ethereum’s pattern of experiencing steep corrections before bouncing back, noting that Fibonacci levels previously indicated turning points. He notes that previous market trends have seen the levels serve as good indicators of a reversal. He explains that the upcoming weekly sessions will be crucial in determining whether Ethereum stabilizes above support or continues its downward trajectory. He stresses that traders should focus on these Fibonacci zones to confirm the market’s next major movement. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Shares of Bitcoin miner Bit Digital climbed 7% after the company reported more than a 140% revenue jump in 2024, fueled by its growing cloud services segment. Bit Digital’s latest financial results suggest a major shift is underway as its expanding cloud services and high-performance computing operations appear to be reshaping its revenue mix. In a press release on Friday, March 14, Bit Digital reported $108.1 million in total revenue for 2024, a 141% increase from the previous year. The company’s management attributed the surge to the successful rapid expansion of its HPC business. Data shows that cloud services, which contributed $45.7 million, weren’t even part of the business a year earlier. “Profitability improved alongside business expansion, supported by stronger gross margins and operational efficiencies. A strong liquidity position and no debt provide the flexibility to make targeted investments that enhance capabilities and long-term competitiveness.” Bit Digital Meanwhile, Bitcoin ( BTC ) mining revenue grew 32% to $58.6 million, though its share of total revenue fell from 98% in 2023 to 54% in 2024. Profitability also appeared to improve as the company reported a net income of $0.19 per share, a turnaround from the previous year’s loss of $0.16 per share. Still, operational figures seem to show both gains and challenges. The company earned 949.9 BTC in 2024, down 37% from 2023, pointing to challenges such as April’s halving event and increasing network difficulty. At the same time, its Ethereum ( ETH ) staking revenue grew 169% to $1.8 million. The company’s cloud expansion also continued, with agreements signed with Boosteroid and DNA Fund. A new data center project in Quebec, expected to be powered by hydroelectricity, is also in the works. “The company expects to invest approximately $19.3 million to develop the site, with potential expansion to 13MW within 24-36 months, subject to Hydro-Quebec approval.” Bit Digital Bit Digital suggested that profitability improved as the business grew, though it also mentioned that “cost-effective financing options” are being explored. The company emphasized its strong liquidity and lack of debt but acknowledged that maintaining financial discipline remains a focus. Following the news, Bit Digital’s shares soared 7% to $2.41, per data from Nasdaq.

$BTC ANAYSIS Bitcoin is consolidating within a descending triangle pattern, trading just below the resistance trendline. The 50MA and the Ichimoku Cloud are acting as resistance barriers above the price action. A decisive breakout or breakdown is needed to confirm the next directional move.