02/03/2025
4-Hour Analysis (03 March 2025)
1. Support and Resistance Levels:
• Immediate Support: Strong buying pressure is expected in the $85,000 - $87,000 range.
• Immediate Resistance: The price will face resistance in the $95,000 - $97,000 zone.
• If the price breaks above $97,000, it can reach the psychological level of $100K.
2. RSI (Relative Strength Index):
• RSI is currently above 60, indicating bullish momentum.
• The price has shown a strong reversal from the oversold zone, which is a bullish sign.
• If RSI crosses 70, it may enter the short-term overbought zone, increasing the chances of a correction.
3. MACD (Moving Average Convergence Divergence):
• A bullish crossover has occurred – the blue line has crossed above the orange line, generating a buy signal.
• The histogram is expanding positively, confirming price momentum.
• As long as MACD remains in the positive zone, the chances of bullish continuation are strong.
4. Volume Analysis:
• A recent spike in volume is supporting price recovery, indicating that buyers are returning.
• If volume continues to increase in the next few candles, breakout confirmation will be stronger.
Final Verdict:
✔ BTC is currently showing a strong bounce and bullish momentum.
✔ In the short term, it is bullish, but breaking the $95K - $97K resistance is crucial for long-term bullish continuation.
✔ If $85K support breaks, bearish pressure may return.