BTC/USD quotes are trading at 83865 and continue to move as part of the decline and the beginning of the implementation of the “Triangle” pattern. Moving averages indicate the presence of a short-term bearish trend for Bitcoin. Prices have broken through the area with signal lines downwards, which indicates pressure from sellers of “Digital Gold” and a potential continuation of the development of a bearish impulse in the asset value from current levels. As part of the cryptocurrency rate forecast for tomorrow, March 5, 2025, we should expect an attempt to develop growth in the value of the digital asset and a test of the resistance level near the 91365 area. From where we should again expect a rebound downwards and an attempt to continue the fall of the Bitcoin rate with a target below the 66705 area.
Bitcoin Forecast and Analysis for March 5, 2025
An additional signal in favor of the fall of BTC/USD quotes will be a test of the resistance line on the relative strength indicator. The second signal in favor of this option will be a rebound from the upper border of the descending channel. The cancellation of the coin rate and Bitcoin price fall option will be a strong increase in the asset price and a breakout of the 96505 area. This will indicate a breakout of the resistance area and continued growth of the Bitcoin rate with a potential target at 102605. The asset price fall will be confirmed by a breakout of the support area with the price fixing below 78405.
Bitcoin Forecast and Analysis for March 5, 2025 suggests an attempt to test the resistance level near the 91365 area. And then, the continuation of the fall of the cryptocurrency with a potential target at 66705. An additional signal in favor of the fall of the Bitcoin rate will be a test of the resistance line on the relative strength indicator. The cancellation of the digital currency fall option will be a breakout of the 96505 area. This will indicate continued growth of the coin with a potential target above 102605.
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