BTC/USD are trading at 43576 and continue to move as part of the growth and the formation of the ”Wolfe Wave” model. The capitalization of the Bitcoin cryptocurrency at the time of the publication of the forecast is $829,199,184,889. Moving averages indicate a short-term bearish trend for Bitcoin. Prices have broken through the area between the signal lines, which indicates pressure from the sellers of Digital Gold and a potential continuation of the fall in the value of the asset already from current levels. As part of the forecast for the cryptocurrency rate for tomorrow, March 3, 2022, we should expect an attempt to develop a correction in the value of the digital asset and a test of the resistance level near the 47205 area. From where we should again expect a rebound down and an attempt to continue the fall of the Bitcoin rate with a target below the 28505 area.
Bitcoin Forecast BTC/USD March 3, 2022
An additional signal in favor of falling BTC/USD quotes will be a test of the trend line on the relative strength index (RSI). The second signal in favor of this option will be a rebound from the upper border of the bearish channel, as well as from the upper border of the downward ”Wolfe Wave” pattern. Cancellation of the option of falling in the exchange rate and the cost of Bitcoin will be a strong increase in the value of the asset and a breakdown of the area of 54305. This will indicate a breakdown of the resistance area and continued growth of the Bitcoin rate with a potential target at the level of 57055. Confirmation of the fall in the price of the asset will be a breakdown of the support area with the price fixing below the level of 36965.
Bitcoin Forecast BTC/USD March 3, 2022 suggests an attempt to test the resistance level near the area of 47205. And further, the cryptocurrency will continue to fall with a potential target at 28505. An additional signal in favor of the Bitcoin price decline will be a test of the resistance line on the relative strength index (RSI). Cancellation of the cryptocurrency fall option will be a strong growth and a breakdown of the 54305 area. This will indicate a continuation of the rise with a potential target above the 57055 area.
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