Bitcoin BTC/USD ends the trading week at the level of 79552 and continues to move within the framework of the development of the fall and the beginning of the implementation of the “Triangle” pattern. Moving averages indicate the presence of an upward trend. Prices have broken through the area between the signal lines downwards, which indicates pressure from sellers of the asset and a potential continuation of the fall in BTCUSD quotes. At the moment, we should expect an attempt to develop a bullish correction in the coin price and a test of the resistance area near the level of 86505. From where we should again expect a rebound downwards and a continuation of the fall in the Bitcoin rate with a potential target below the level of 61605.
Bitcoin Weekly Forecast March 3 — 7, 2025
An additional signal in favor of a fall in BTC/USD quotes in the current trading week of March 3 — 7, 2025 will be a rebound from the lower border of the “Triangle” pattern. The second signal will be a rebound from the resistance line on the relative strength indicator (RSI). The cancellation of the Bitcoin fall option during the current trading week will be a strong growth and a breakout of the 97045 area. This will indicate a breakout of the resistance area and continued growth of BTC/USD quotes with a potential target above the 105605 level. The development of the bearish movement will be confirmed by a breakout of the support area and closing of quotes below the 72065 level, which will indicate a breakout of the lower border of the bullish channel.
Bitcoin Weekly Forecast March 3 — 7, 2025 suggests an attempt at the resistance area near the 86505 level. Then, the continuation of the fall of the cryptocurrency to the area below the 61605 level. An additional signal in favor of a decrease in the Bitcoin rate during the current trading week will be a test of the trend line on the relative strength indicator. The cancellation of the Bitcoin cryptocurrency fall option will be a strong growth and a breakout of the 97045 area. In this case, we should expect continued growth with a target at the 105605 level.
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