BTC - 4h. Buyers get to the first critical point $52000-52300

3 Mar 2021

Good afternoon colleagues! After the recent aggressive fall in the price of BTC, buyers still found the strength to counterattack. The price in the BTC market is slowly reaching the first critical point of $52000-52300. We wrote about this point in our global idea on Sunday:

Buyers are unsure and very careful to buy BTC, fearing sharp resistance from sellers. The current 12 hour candle has every chance to close in the range of $52000-52300. It is in this range that it will be most interesting to observe the actions of market participants.

If we pay attention to the movement of BTC prices during February 22-25, we see an active struggle for this range. It was after the breakdown of the range of $52000-52300 and its retest that the sharp fall in the price of BTC continued:

Rebounding from this range to the liquid zone of $48000-48500 will not disrupt the trend of buyers but will only check their intentions.

Maintaining the range of $48,000-48500, buyers will find their way to retest the liquid zone of the historical maximum of $55000-56000.

At the moment, the dominance of BTC continues to consolidate near the trend line:


So far, altcoins are quite cautious about the growth of bitcoin and are in no hurry to follow it. An unsuccessful attempt by BTC buyers to break $52,000-52300 would be a good test of altcoins for strength. It is after the $ 48000-48500 test that it will become clear which coins still have the strength and ambition to continue to grow.

What do you expect from the bitcoin market? Send your schedule in the comments and we will discuss it!

10 Mar 2021

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