empty
 
 
en
Support
Instant account opening
Trading Platform
Deposit/Withdraw

02.03.202318:06 Forex Analysis & Reviews: Bitcoin analysis for March 2nd, 2023.

Exchange Rates 02.03.2023 analysis

Green rectangle - horizontal resistance

Bitcoin is under pressure today after getting rejected once again yesterday at the horizontal resistance level of $23,800. Bitcoin's second attempt to break above the horizontal resistance is failing. Price is now moving lower once again but bulls still have hopes as price continues to respect the $23,000 price level. Price continues to form higher lows despite the inability to break above the green resistance area. Current price action confirms the importance of the $23,800 level. What was once support is now resistance. As long as price is below it, Bitcoin remains vulnerable to a move lower towards $22,500-$22,000.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Alexandros Yfantis,
Analytical expert of InstaSpot
© 2007-2024
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.

Earn on cryptocurrency rate changes with InstaSpot
Download MetaTrader 4 and open your first trade
Can't speak right now?
Ask your question in the chat.