FX.co ★ BTC/USD Analysis for March 02, 2022 - Potential for the downside rotation

Trading reccomendation:

Based on the 1H time-frame, I found that BTCUSD is trading sideways at the price of $44.112 and that there is exhaustion of the upside movement in the backgorund, which can be a sign for furher downside rotation.

Watch for potential selling opportunities with the downside objectives at $42.865 and $41.500

There is the drift pattern in the background, which is good confirmation for the lack of buying power to continue with the upside movement.

Key resistance is set at the price of $45.800